An agreement between the Saudi Space Agency and the World Economic Forum will see the Center for Space Futures open this autumn, the Saudi Press Agency has reported.

The center will aim to facilitate 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 Mohammed Al-Tamimi.

“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,” said Jeremy Jurgens, the WEF’s managing director.

He added the center would be integrated into the Center for the Fourth Industrial Revolution network due to the importance of topics such as space technological innovation, policies and regulations, as well as sustainability.

The Center for Space Futures will be the first in C4IR to focus exclusively on space.

It will work alongside the Kingdom’s existing center, C4IR Saudi Arabia, to advance Saudi Vision 2030, the country’s roadmap for economic diversification, global engagement and improved quality of life.