The Ministry of Investment wrapped up its role in the 2024 World Defense Exhibition in Riyadh, from February 4 to 8, 2024.
This premier event attracted top global companies from the defense and aviation sectors. The Ministry highlighted Saudi Arabia’s unique investment opportunities, emphasizing support services for investors.
Showcasing Investment Opportunities
At this event, the Ministry revealed enhanced investment opportunities in the defense sector. This initiative opened doors for investors to discover extensive investment options within Saudi Arabia. It also provided a detailed overview of services available to investors.
Enhancing Investment Environment
Leading the charge to improve the investment climate, the Ministry of Investment focuses on unveiling and developing investment opportunities. It aims to facilitate investments by showcasing the Kingdom’s extensive resources and promising prospects.
Strategic MoU Signings
A highlight of the expo was the signing of 12 MoUs between the Ministry of Investment, the General Authority for Military Industries (GAMI), and key defense sector companies. The Ministry signed MoUs with companies that included Airbus, Leonardo, Lockheed Martin, and Roketsan. These agreements aim to boost cooperation and explore investment opportunities in Saudi Arabia’s defense sector.
The agreements align with ambitious national goals to elevate foreign direct investment and increase the private sector’s GDP contribution.
Joint Venture Sponsorship
Furthermore, the Ministry sponsored a joint venture between “Qadarah Industrial” and “Steel Core” focusing on the localization, manufacturing, and innovation of small arms. This initiative is part of the biennial exhibition’s effort to keep defense and security institutions abreast of developments.
It supports Vision 2030’s strategy to leverage opportunities for advancing defense and security sectors and promoting industrial localization in the Kingdom.
This comprehensive approach underscores Saudi Arabia’s commitment to becoming a global investment hub, particularly in defense and aviation, fostering economic growth and technological advancement.
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