Saudi marketUpdated 3h ago
Saudi Arabia approves National Space Policy
Saudi Arabia’s Cabinet approved the National Space Policy on November 3, setting out a purpose of supporting a national space ecosystem and developing scientific, technical and investment activities. Asharq Al-Awsat presents the policy as part of the Kingdom’s broader effort to diversify investment and expand strategic industries and advanced technologies, including space. The Saudi Press Agency says the policy sets sector priorities and supports investment, research and cooperation, while the space law regulates activities. The economic outlook remains a forecast: Asharq Al-Awsat reports that the Communications, Space and Technology Commission puts the space economy at 33 billion riyals in 2024 and forecasts 119 billion riyals by 2035. It also forecasts a domestic market of 21 billion riyals.
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