Saudi Military Industries Company: Defense and Security Technology Conference concludes in Paris

[The SC]

The Defense and Security Technology Conference, organized by the Saudi Military Industries Company (SAMI), concluded with the theme of "Strengthening Partnerships" in the French capital of Paris, in conjunction with the visit of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Minister of Defense, to France now.

The Saudi Military Industries Company reviewed its future plans with regard to developing and supporting the military industries in the Kingdom and enhancing its self-sufficiency and the steps that the company intends to take to contribute effectively in localising 50% of the Kingdom's spending. And the growth of non-oil export revenues and the creation of thousands of jobs for Saudi youth, among the most important targets of the Kingdom's Vision 2030.

Khatib stressed that the conference is an important platform for introducing the Saudi Company for Military Industries and presenting its latest achievements, initiatives and future plans. He added that this event comes in favorable conditions in which the Kingdom and France are seeking to explore new horizons of partnership and promote the historical relations between the two countries.

The Kingdom is witnessing economic and social reforms aimed at developing the potential of the Saudi people and ensuring a prosperous future for both the Kingdom and the region, especially as the Kingdom strives to achieve its historic Vision 2030 initiatives aimed at creating a healthier and more stable working environment and providing greater opportunities for commercial and institutional partnerships.

The conference was attended by HE Mr. Ahmed Al Khatib, Chairman of the Saudi Military Industries Company, a number of senior Saudi and French government officials, a group of experts and representatives of French defense and security companies, members of the board of directors of major companies and members of the Saudi delegation accompanying His Highness the Crown Prince During his current visit to France.
General Manager of the Military Industries Corporation (GAMI) Eng. Abdullah Bin Abdulrahman Bin Zarah, CEO of the Saudi Military Industries Company, Dr. Andreas Choueir, and Pierre Palmer of CMN for the design and construction of military vessels.

Saudi Military Industries Company is a national entity owned by the Public Investment Fund of the Kingdom. It was founded in May 2017. It offers military products and services, with the aim of reducing dependence on foreign purchases in this field. The company's shareholders are looking to contribute to Saudi Arabia's gross domestic product by about SR 14 billion (US $ 3.7 billion) by 2030, while the company seeks to invest SR 6 billion (US $ 1.6 billion) in research and development, And create about 40 thousand jobs for the sons and daughters of the Kingdom.

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