New Laws of Commercial Registration and Trade Names take effect on Thursday    Civil Defense warns of heavy rains across Saudi Arabia until Monday    Saudi Exchange suspends trading of seven companies over financial disclosure delays    New fleet of 76 public transport buses starts operation in Jeddah on Tuesday Environmentally friendly electric buses introduced for first time    Foreign investors are allowed to engage in real estate business outside Makkah and Madinah Commercial speculation should not be the purpose of real estate transaction    EU preparing 'further countermeasures' to protect its interest, von der Leyen says    Tesla sales plunge after backlash against Elon Musk    Musk's X is suing India, as Tesla and Starlink plan entry    Israel announces expansion of military operation in Gaza to seize 'large areas' of land    US cancels visa of Nobel Peace Prize winner Oscar Arias    Danish prime minister refutes US claim on Greenland on visit to the Arctic territory    Aubameyang fires Al Qadsiah into King's Cup final with stoppage-time winner over Al Raed    Cristiano Ronaldo joins Fatal Fury: City of the Wolves    Saudi Arabia welcomes trilateral border treaty between Tajikistan, Kyrgyzstan, and Uzbekistan    Swedish table tennis legend Jörgen Persson appointed head coach of Saudi national team    Danilo Pereira fires Al Ittihad into King's Cup final with dramatic stoppage-time double    Screen time in bed linked to insomnia, study finds    Mexico bans junk food in schools to fight childhood obesity epidemic    Sweet sales surge ahead of Eid as Saudi chocolate imports top 123 million kg in 2024    Saudi creatives shine at Jeddah's Fawanees Nights with art, fashion, and storytelling    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    King Salman prays for peace and stability for Palestinians in Ramadan message King reaffirms Saudi Arabia's commitment to serving the Two Holy Mosques and pilgrims    Bollywood star Saif Ali Khan 'out of danger' after attack at home in Mumbai    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







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.