Riyadh: The World Economic Forum has signed an agreement with the Saudi Space Agency to establish the Centre for Space Futures, set to open this autumn.

The center, to be hosted by the Saudi Space Agency, aims to facilitate public-private discussions on space collaboration, incorporating best practices from the forum and its communities into the global space sector, and generating forward-looking contributions to accelerate space technologies.

“The center is committed to fostering a vibrant, prosperous, and sustainable space economy globally. By developing principles, expanding knowledge, refining models and cultivating partnerships, we aim to responsibly harness the vast opportunities of space,” said Saudi Space Agency CEO Dr. Mohammed Altamimi.

“From monitoring the effects of climate change to increasing human connectivity via satellites, the impact of the global space sector on Earth cannot be overstated,” World Economic Forum Managing Director Jeremy Jurgens said.

He added that the Centre for Space Futures is integrated into the C4IR Network due to the importance of addressing various topics such as space technological innovation, policies and regulatory, as well as sustainability.

The Centre for Space Futures is the first in the network of the Fourth Industrial Revolution Centers to focus exclusively on space. It will work alongside the existing center in the Kingdom (C4IR Saudi Arabia) to advance Saudi Vision 2030, the country’s roadmap for economic diversification, global engagement, and improved quality of life.