The General Authority for Civil Aviation (GCAA) said that by organizing the World Aviation Investment Summit, it seeks to provide an ideal global platform for bringing together more than 1,400 global aviation envoys and investors.
The summit, which will begin in Dubai on January 27, will be attended by ministers and heads of aviation authorities from various countries, as well as a selection of the largest specialized companies, aircraft operators and investors in the sector.
Aviation growth
The General Authority of Civil Aviation (GCAA) announced that it will organize the second edition of the World Summit on Aviation Investment 2020 (WAS 2020) from 27-29 January in Dubai under the slogan “Strengthening the growth of global aviation through saving money for investment”. That support the aviation investment sector.
In a press conference held in Dubai yesterday, the Authority said that the summit represents a global platform, which will be attended by ministers and heads of aviation authorities from around the world, in addition to a selection of the largest specialized companies, aircraft operators and investors in the aviation sector, in addition to a large number of visitors and official delegations. And finance and insurance companies, technical and logistical service providers and legal consultants.
Global platform
“By organizing the World Aviation Investment Summit, we aim to provide an ideal global platform for more than 1,200 international envoys and 200 aviation investors to exchange views and experiences, discuss and analyze trends,” said Saif Al Suwaidi. “We will continue to develop strategies and mechanisms to channel more investments into the aviation sector, support the global economy and support its growth and sustainability.”
Al Suwaidi explained that «the forecasts of reports issued by the International Civil Aviation Organization (ICAO), indicate the growth of global passenger traffic by 4.3% annually from 2015 to 2035, which is 0.3 percentage points lower than the previous expectations, which constituted 4.6% annually From 2012 to 2032, economic growth rates for China and the Middle East exceeded expectations for high growth in Europe. ”
Summit Agenda
For her part, said the Chairman of the Organizing Committee of the World Summit for Aviation Investment, Nadia Mazmi, that «the summit succeeded in its previous session to present and submit 50 investment projects exceeded the size of $ 200 billion, also saw the participation of more than 50 countries, 828 participants, including 80 speakers, Eight state ministers, 120 investors, 35 start-ups, and 387 international organizations.
“The summit agenda includes a distinctive package of workshops that fall under three main levels, each with seven different workshops, including aviation finance and airport projects,” she said.
Suweidi: No restrictions on investment in «aviation»
Saif Al Suwaidi, Director General of the General Civil Aviation Authority, said that the current legal and legislative system does not impose restrictions on foreign investor entry in the activities of the aviation sector, while the free zones in the airports of the State provide multiple investment activities and opportunities in the field of aviation. Local departments are open to discussing any investment opportunity offered by the foreign investor in the UAE.
Al-Suwaidi said in remarks on the sidelines of the press conference yesterday to announce the World Summit on Aviation Investment, that everyone is working to overcome obstacles to investors in the aviation sector, if any, pointing out that there are no obstacles in this framework.
Al Suwaidi said that the aviation sector in the local market is closely linked to the global economy, especially that the global market constitutes 60% of the size of the sector locally, and therefore the global slowdown is reflected on the performance of the sector, pointing out that the UAE has the largest number of open skies agreement for air transport rights up to About 147 conventions.
Regarding the Boeing 737 MAX, Al Suwaidi said that the Authority is still awaiting the solutions provided by the company and the US Federal Aviation Administration, pointing out that the Authority will conduct an independent evaluation regarding the aircraft, ruling out the return of the aircraft to fly again this year.
4.3%
Annual growth in global passenger traffic from 2015 to 2035.