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Al Suwaidi: More than one trillion dollars worth of foreign investments in the aviation sector in the country

2019-10-22T09:33:28.543Z

Dubai will host the second session of the World Aviation Investment Summit, which will start on January 27 and will last for three days, and will include more than 1400 participants from aviation investors from all over the world, in addition to a number of leaders and government officials.



Dubai will host the second three-day World Aviation Investment Summit, which will kick off on January 27 and bring together more than 1,400 aviation investors from around the world, as well as leaders, government officials and private financiers. , Companies operating in the sector, selected aircraft operators, logistics providers.

The summit, organized by the General Civil Aviation Authority (GCAA), will be held in the halls of Madinat Jumeirah, under the theme 'Strengthening the growth of global aviation through saving money for investment', with the aim of highlighting the promising investment opportunities offered by the aviation industry. Participating companies from various local, regional, and global markets, particularly those in Africa, Asia, the Middle East and emerging markets, are new target markets in the aviation industry.

"The UAE is highly regarded in the aviation sector, both regionally and internationally, and the aviation industry is one of the largest aviation industries around the world. The sector seeks to complete the achievements of the sector to increase its contribution to GDP to 20% in the coming years through the implementation of various projects and initiatives that contribute to the development of airport infrastructure to increase its capacity. To meet the expectations of the UAE to serve two billion passengers through its airports in the next five years, in addition to the development in the manufacture of aircraft parts, and work to attract investors from outside the country to establish their business in our companies and national airports, where the value of foreign projects currently being implemented more than $ 1 trillion . "

“The aviation sector is a dynamic sector, evolving and keeping pace with all current and future challenges. One of these challenges is raising awareness among investors, so the Summit provides them with a special education on aviation investment and helps them meet and connect with aviation industry investors to build partnerships. “The industry is growing at an annual rate of 5% per year and is expected to reach 50% in the next five to ten years.”

Tahnoon Saif, Vice President, Aviation Sector, Dubai, said: “An exclusive platform in Dubai South has been dedicated to aviation and maintenance activities, as one of the global integrated aviation system operators, the Aviation Ecosystem. The General Authority of Civil Aviation (GCAA), as our business at the Mohammed bin Rashid Aviation Center is witnessing continued growth and remarkable progress, we are highly optimistic that we will achieve further growth and success by 2020. ”

Highlighting another growing aviation sector, Ireland's Ambassador to the UAE, Aidan Kroenen, said: “The aviation industry is one of the key sectors in Ireland, with some 250 charter aircraft companies. "We look forward to participating in the summit next January to gain a deeper understanding of the business prospects in this sector."

The latest KPMG report indicates that there are more than $ 100 billion worth of regional or planned projects under construction in and around the Gulf region. The long list of projects includes the $ 1 billion expansion of Bahrain International Airport and the construction of a new terminal. An additional multi-billion dollar runway at Kuwait International Airport, the development of King Abdulaziz International Airport in Jeddah, as well as expansion projects at Dubai, Abu Dhabi and Sharjah airports.

Industry experts identified the four key growth areas of the sector, led by the European aviation sector, which exceeded expectations in 2018 and is likely to continue this growth.Asia countries are expected to witness the fastest growth rates in the sector this year. Air cargo is a strong wave due to the increasing demand for delivery of orders immediately or within a day of online shopping, and finally the 'Economy Premium' option offered by Emirates and American Airlines offers an exceptional experience at the expense of the traditional business class capability.

Source: emara

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