Military contracts worth approximately $ 8 billion signed at the Riyadh Exhibition.
The Saudi government announced that it had signed a total of $ 7.9 billion in agreements with domestic and foreign arms companies at the four-day “Global Defense” exhibition in Saudi Arabia.
The “Global Defense” weapons exhibition in Riyadh ended on Wednesday (yesterday) after four days, and the Saudi government announced that it had signed a total of $ 7.9 billion worth of contracts at the exhibition.
According to the official Saudi news agency (WAS), 600 exhibitors from 42 countries attended the exhibition and 65,000 people from 85 countries visited it.
According to the news agency, in this exhibition, which exhibited various types of air, land and naval weapons, as well as various new military and security technologies, the Saudi government signed contracts worth a total of 29.7 billion Saudi riyals (7 $ 9 billion) with domestic and foreign companies.
According to the report, Saudi domestic companies have accounted for 46% of these contracts worth 10 billion Saudi riyals ($ 2.7 billion). These contracts are mainly in the field of localization of military weapons, and Riyadh, according to the 2030 vision, claims that it is trying to localize 50% of the military industry.
In this regard, “Walid Abu Khalid,” the chief executive of the Saudi Military Industries Company, told Al-Akhbariya that the country is working with domestic partners, including the Saudi General Directorate of Industries, to produce a native drone to be the first 100% Saudi-designed aircraft. In the future, it will be produced and used by our armed forces.
At the same time, the head of the Saudi Military Industries Organization, Ahmad al-Awhali, announced at the opening ceremony that his country would increase military spending by 50 percent by 2030, and that Riyadh would work with countries in the region and the world to achieve self-sufficiency in the defense industry. .
Saudi Arabia has turned to localizing military equipment as its strategic positions have been repeatedly targeted by Yemeni military rockets and drones in recent years. The Yemeni army and popular committees have always stated that they will continue to attack the strategic positions of Saudi Arabia and other coalition members, especially the United Arab Emirates, as long as the Saudi coalition continues to invade Saudi territory.
