Quality of Life Program: National Cultural Awards culminates support to Saudi culture, intellectuals    KSrelief Supports Early Recovery and Livelihoods Sector as Part of Saudi Arabia's Grant to Support Yemen Humanitarian Response Plan 2020    KSrelief Continues Distributing Ramadan Food Baskets in Lebanon    King, Crown Prince condoles Turkmen president on death of his father    Presidency to increase capacity of Mataf Courtyard, allocating 4 paths for elderly    India Reports New High of 1,761 Daily COVID-19 Deaths    Russia reports 8,164 new COVID-19 cases, 379 deaths    Custodian of the Two Holy Mosques Directs Disbursement of SR 1.9 Billion of Ramadan Aid for Social Insurance Beneficiaries    China administered total of 195.02 mln COVID-19 vaccines as of April 19    Prince Khalid meets with UK PM's envoy to Gulf region    10 million people in UK receive second dose of COVID-19 vaccine    Video clip showing expats being assaulted is old: Riyadh Police    US immigration agencies ordered to end use of terms 'alien' and 'assimilation'    US warns against travel to 80% of all countries due to COVID-19 State Department 'strongly recommends' US citizens reconsider any travel aborad    Chairman of Libyan Presidential Council Meets with Algerian Foreign Minister    In Jeel Tamooh's third edition, BCG experts, 100 world-class Saudi students come together    UAE government adopts 'blockchain' technology in authentication services    KSrelief signs two joint agreements to serve needy people in Yemen    Jadwa Investment partners with MHRSD to develop non-profit sector    Oilfields Supply Center's $570m investment in SPARK    SRC Obtains Good Ratings From Moody's, Fitch    National Center for Privatization Hosts Chinese Investors Forum    Saudi Stock Exchange Main Index Ends Trading Higher at 10,097 Points    Saudi Al-Hilal Defeats UAE Shabab Al-Ahli witn AFC Champions League    Saudi Al-Ahli, Qatari Al-Duhail Drew 1-1    Messi fires Barca to dominant Cup final win    Bayern moves closer to title but Flick says he's leaving    IRTI Report Showcases Sustainable Development Goals for IsDB Member States    Bayern move closer to title but Flick says he's leaving    The importance of legal specialization    Indian actor and environmentalist Vivek dies at age of 59    Alert over shortage of new drugs for 'world's most dangerous bacteria'    Helen McCrory, 'Harry Potter' and 'Peaky Blinders' star, dead at 52    New global compact aims to drive down diabetes deaths, boost insulin access    Welcome to beautiful Ramadan customs    Foundation stone laid for Jeddah Formula One circuit    Laying the Foundation Stone for Jeddah Formula One Circuit    King Salman Center for Disability Research Launches 2nd Edition of its Story Collection (Awareness)    Riyadh Light Witnesses Conclusion of External Artworks    Riyadh Light Turned the Capital into Lights' Aura    Colored Triangles Decorate Conference Building, at King Abdullah Financial Center    Vaccination does not invalidate fasting, says UAE Fatwa Council    It is high time to correct wrong concepts about women's status    Council of Senior Scholars: Muslim Brothers' Group Don't Represent Method of Islam, rather only Follows its Partisan Objectives, Violating our Graceful Religion    Court facilitates young woman's marriage after stripping father's guardianship    Eid Al-Adha Prayer Performed at the Grand Holy Mosque    Pilgrims Perform Dhuhr and Asr Prayers in Arafat Holy Site    Senior Scholars Council Issues Decision No. 246 Regarding Attendance of Friday Prayer and Prayers at Mosques in a Case of Spread of Epidemic or Fear of its Spread    







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





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.


Clic here to read the story from its source.