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Saudi Press: Saudi Arabia's Biggest Military Industries Deal
Published in Saudi Press Agency on 29 - 12 - 2020

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 Gulf Cooperation Council (GCC) for Arab States affirms that the solid foundations and the noble goals from which it was launched four decades ago, are capable of pushing it today to overcome challenges and obstacles, leading to achieving the desired unity and joint cooperation.
The GCC states rely on the pivotal role of the Kingdom of Saudi Arabia and the wisdom of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud since the 41st Session of the Supreme Council of the Gulf Cooperation Council (GCC) will be chaired by the Custodian of the Two Holy Mosques who is greatly appreciated by the leaders of the GCC states for his wise leadership and historical roles in preserving the Council's security and defending its gains.
The newspaper concluded that the Gulf history has demonstrated situations that show the keenness of the Custodian of the Two Holy Mosques, along the leaders of the GCC states, for the permanence of the Gulf system, as well as everyone's insistence on overcoming everything that disturbs brotherhood and strengthening relations between the governments and peoples of the GCC states, as this thing is witnessed by the world.
Al-Bilad newspaper reported in its editorial that one of Saudi Arabia's objectives is to localize 50% of military spending by 2030.
In this context, upon the directives of HRH the Crown Prince, the Saudi Arabian Military Industries (SAMI), a wholly owned subsidiary of the Public Investment Fund (PIF), was established to be a sustainable platform to provide military products and services to the Kingdom and its allies, as SAMI meets the highest international standards and specifications, to be among the top 25 military industries companies around the world.
SAMI has achieved several successes, including its full acquisition of the Advanced Electronics Company (AEC) as part of the largest military industries deal ever concluded in the Kingdom of Saudi Arabia, in order to achieve localization of the latest technologies, establish strategic economic relations, promote the defense electronics industry, develop local production and support the national economy.
The paper concluded that Saudi Arabia proceeds strongly to strengthening its defense capabilities, keeping pace with technology to protect its borders, while adhering to its established policy that rejects terrorism, resolves conflicts peacefully, as well as consolidates principles of coexistence and mutual respect among peoples.
In another context, Okaz newspaper said in its editorial that Saudi Arabia announced that it will cover and secure all the requirements of Syrian refugees affected by the fire that broke out yesterday in their camp located in the town of Minieh, North Lebanon, as King Salman Humanitarian Aid and Relief Center (KSrelief) has provided rapid relief to Syrian refugees.
Saudi Arabia has not stopped and will not stop providing humanitarian aid to the poorest and developing countries and international organizations, the newspaper added.
Saudi Arabia's proportion of aid is 1.9% from its national income and it ranked fourth in the world among donor countries, hosting three million refugees, while the value of aid it provides to refugees reached USD 139 billion over four decades. Saudi Arabia has also provided more than USD 800 million to the Syrian refugees in the surrounding countries. It also tops the list of countries receiving Yemeni refugees, by accommodating about 58% of the number of Yemeni refugees around the world.


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