Al-Khateeb: Saudi Arabia has become a global hub for innovations with SR800 billion investments    Nadhmi Al-Nasr: 140,000 workers involved in NEOM projects around the clock    GREAT FUTURES: Saudi Arabia and UK strengthen economic ties    ZATCA sets SR3000 maximum duty-free purchase limit for incoming passenger    Almost 450,000 people have fled Rafah in a week, UN says    Eurovision responds to complaints of bad behavior    Ex-lawyer Michael Cohen says he paid hush money at Trump's direction    Injured Palestinian mothers grieve for babies killed in Gaza    Glioblastoma: Top Australian doctor remains brain cancer-free after a year    Islamic minister launches design models for mosques simulating identity of various Saudi regions    Makkah deputy emir: No Hajj without a permit, and violators will be dealt with sternly    Saudi Minister of transport and logistics begins official visit to Finland    Saudi dates exports jump by 13.7% in Q1 of 2024    Introducing Zilos: A luxury Culinary Oasis of Mediterranean and Asian Fusion in Jeddah    Neymar celebrates Al Hilal's title win, eager for comeback next season    Al Hilal wraps up Saudi League title; Jesus touts season as model of excellence    Al Hilal clinches Saudi Professional League title in a star-studded season    Saudi authorities recall contaminated mayonnaise after food poisoning incident at Riyadh restaurant    Al Ettifaq inflicts historic 5-0 defeat on Al Ittihad in Saudi Professional League    Israel heads to Eurovision final, despite protests    JK Rowling in 'arrest me' challenge over hate crime law    Trump's Bible endorsement raises concern in Christian religious circles    Hollywood icon Will Smith shares his profound admiration for Holy Qur'an    We have celebrated Founding Day for three years - but it has been with us for 300    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Saudi Arabia showcases defense sector opportunities to South Korean investors
Published in The Saudi Gazette on 18 - 10 - 2021

The General Authority of Military Industries (GAMI), Saudi Arabia's defense industry regulator, has hosted a workshop with Korean investors on the sidelines of the 2021 Seoul International Aerospace Defense Exhibition (Seoul ADEX) in South Korea.
The event, titled 'Flourishing Opportunities in Saudi Arabia's Defense Sector', included representatives from GAMI, Saudi Arabian Military Industries (SAMI) and the Ministry of Investment Saudi Arabia (MISA).
The Saudi participants met more than 40 Korean companies at the workshop, including representatives from the Korean defense, logistics, technology, and industrial sectors. Key areas of discussion included details on Saudi Arabia's current defense industry ecosystem, the National Defense Industry Strategy, and the wide variety of channels through which investors can access supply chain opportunities in the sector.
Welcoming investors at the workshop, GAMI's Governor Eng. Ahmad Al-Ohali, said, "We are excited to meet with our Korean business partners as we explore the huge investment opportunities within Saudi Arabia's expanding defense industry."
He continued, "The Kingdom is establishing strategic partnerships with companies from all over the world. In less than two years, around 100 companies have successfully obtained licenses to operate in the Kingdom's defense sector."
Seoul ADEX, held at Seoul Airport on October 19-22, brings together around 50,000 attendees and 400 air defense companies from 30 countries, and is one of the most renowned defense shows in Asia.
Saudi Arabia's attendance at Seoul ADEX follows the recent unveiling by GAMI of the Kingdom's new supply chain initiative. The initiative identified 74 targeted localization opportunities worth billions of dollars to the defense sector.
The investment targets are open to local and international companies via the Military Industry Marketplace (MIM), a digital platform offering investors easy access to localization opportunities and partners.
By linking the local sector with authorized international investors, the Kingdom is strengthening its efforts to localize more than 50% of defense spending by 2030. — SPA


Clic here to read the story from its source.