Saudi Arabia approves joint satellite project with Egypt

JEDDAH, Saudi Arabia (MNTV) – Saudi Arabia has approved plans to develop its first jointly produced satellite with Egypt, marking a significant step in expanding bilateral cooperation in the space sector.

The decision was approved during a Cabinet meeting chaired by King Salman bin Abdulaziz Al Saud in Jeddah, according to the Saudi Press Agency.

Authorities did not release detailed technical specifications for the satellite project. However, the initiative highlights increasing regional collaboration in space technology as Gulf countries continue to invest in satellite development, earth observation systems and scientific research.

The Cabinet also approved executive regulations governing foreign ownership of real estate and identified areas where non-Saudis will be permitted to own property.

In addition, ministers endorsed several international agreements covering labor recruitment, education, energy cooperation, transportation and support for small and medium-sized enterprises.

Among the approved measures were labor cooperation agreements with Nepal and Nigeria, an energy cooperation memorandum with Germany, an education and training agreement with the United States, and an air services agreement with Pakistan.

The satellite project aligns with Saudi Arabia’s Vision 2030 strategy, which seeks to diversify the economy and strengthen national capabilities in high-technology industries beyond the oil sector.

Space technology, artificial intelligence, cybersecurity and digital infrastructure have emerged as key priorities within the Kingdom’s long-term development plans.

During the session, the Cabinet also reviewed recent economic indicators, noting Saudi Arabia’s ranking of 13th globally and third among G20 economies in the 2026 World Competitiveness Yearbook. Ministers further welcomed the Kingdom’s retention of the top global position in cybersecurity for a third consecutive year.