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Saudi Press: Saudi Arabia's Military Industries Sector Witnesses Rapid Growth
Published in Saudi Press Agency on 24 - 02 - 2021

Saudi newspapers highlighted in their editorials today a number of issues at local, regional and international arenas.
Al-Riyadh newspaper reported in its editorial that the new stage in Saudi-Iraqi relations represents an evident example of the kind of relations that Iraq seeks, especially in this time, as it needs more political, economic and security stability.
The steady growth in the bilateral relations and deepening security cooperation, resulted in exceptional success in controlling border security, followed by the absence of smuggling and illegal entry cases, as this embodies the Saudi policy that has always supported regional and international stability, the newspaper added.
In this regard, the newspaper pointed to Minister of Interior Prince Abdulaziz bin Saud bin Naif bin Abdulaziz's session of official talks with his Iraqi counterpart Othman Ali Al-Ghanimi, aimed at setting up mechanisms to enhance and strengthen the security and stability of the two countries, which will also contribute to the security and stability of the region.
The newspaper concluded that these aforementioned data present the huge difference between the two models of Saudi policy and the Iranian policy which seeks to form and find sectarian militias to destroy Iraq, as this will contribute to its aggressive expansionist ambitions.
Al-Bilad newspaper said in its editorial that Saudi Arabia has made major and important steps in the military industries within its National Transformation Program.
The newspaper added that during a record time, the number of local and international companies operating in the military industries sector in the Kingdom of Saudi Arabia reached more than 70, with an estimated investment volume of SAR 24 billion, making them a part of its strategy that contributes to the Saudi Vision 2030 objective of localizing over 50 percent of the military equipment spending by 2030.
Military industries represent one of the pillars of the Kingdom's policy. The Saudi Arabian Military Industries Company (SAMI), a wholly-owned subsidiary of the Public Investment Fund (PIF), and U.S. Lockheed Martin Corporation signing of a strategic agreement to establish a joint project for cooperation between the two companies to enhance defense and security capabilities of the Kingdom of Saudi Arabia comes within the framework of the two countries' keenness to strengthen the strategic partnership, confirming the role of military industries in the nation's economy and sustainable growth and enhance its own defense capabilities, the newspaper concluded.
In another context, Okaz newspaper reported in its editorial that strengthening economic capabilities and diversifying sources of income are essential pillars of the Kingdom's Vision 2030 strategies, and this became evident in Saudi Arabia's hosting of global sporting events.
The newspaper pointed to His Royal Highness Prince Mohammad bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister and Minister of Defense, patronage of the ceremony of the most valuable global race in the world, the Saudi Cup 2021, with prizes amounting to $30.5 million.
The newspaper concluded that this world historical event and other world sports events hosted by the Kingdom of Saudi Arabia represent the generous support that the sports sector receives from the wise leadership.

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