The Ministry of Defense signs 28 contracts at the World Defense Show to support localization
In a strategic move reflecting the Kingdom of Saudi Arabia's commitment to developing its military and defense systems, the Ministry of Defense signed 28 contracts with leading local and international companies in the military industries sector. This took place during the World Defense Show, hosted by the capital, Riyadh, a global platform that brings together industry leaders to exchange expertise and forge strategic partnerships.
Details of the contracts and the companies signed
The signing ceremony was attended by high-ranking officials, including His Excellency Dr. Khalid bin Hussein Al-Bayari, Assistant Minister of Defense for Executive Affairs, who signed four major contracts with the CEOs of leading international companies. These agreements included those with MBDA, the leading French missile systems company; Raytheon, the Saudi Arabian subsidiary of the American defense giant; Hanwha Aerospace, the South Korean company; and Leonardo, the Italian company renowned for its advanced aerospace technologies.
In a related development, Dr. Al-Bayari witnessed the signing of eight additional contracts, signed by the Deputy Minister of Defense for Procurement and Armament, Ibrahim bin Ahmed Al-Suwaid, with CEOs of local companies and companies from France, Turkey, Korea, and Italy, reflecting the Kingdom's diverse international partnerships. The package also included sixteen additional contracts signed by the executive directors general of the Ministry of Defense's Procurement and Armament Agency with representatives of the relevant companies.
Enhancing readiness and localizing military industries
These contracts are part of a comprehensive strategy aimed at raising the military readiness of all branches of the Saudi Armed Forces. Through these agreements, the Ministry seeks to enhance defense capabilities, improve combat efficiency, and ensure the sustainability of technological and military systems by providing advanced maintenance and technical support services.
These agreements carry significant national weight, supporting and localizing domestic manufacturing. The Ministry is committed to the Kingdom's Vision 2030, whose architect, His Royal Highness Crown Prince Mohammed bin Salman, set an ambitious goal of localizing more than 50% of government spending on military equipment and services. These contracts represent a practical step towards transferring technology and expertise to national companies, contributing to the creation of high-quality job opportunities for Saudi talent and the establishment of an independent and sustainable military industrial base.
The importance of the World Defence Exhibition
The signing of these contracts during the World Defence Exhibition takes on special significance, as it solidifies the Kingdom's position as a pivotal hub on the global defense map. The exhibition provides an ideal environment for networking between manufacturers, investors, and decision-makers, facilitating partnerships that serve the Kingdom's strategic interests and enhance its ability to address regional and international security challenges with the latest globally available technologies.
