7,523 violators of residency, labor, and border security laws deported in a week    Video contradicts Israeli army account of deadly March 23 strike on Gaza paramedics    Saudi Arabia spends over $241 million to implement de-mining projects in 3 countries    Italy's Meloni government approves controversial security decree expanding police protections and penalties    Egypt submits new Gaza ceasefire and prisoner exchange proposal: Report    'Everything is possible' — Ronaldo focused on titles, not 1,000-goal milestone after Riyadh Derby win    Saudi, US military leaders discuss enhanced defense cooperation in Riyadh    King Salman Global Academy for Arabic Language launches program with Indiana University    Ronaldo brace powers Al Nassr past Al Hilal in Riyadh derby thriller    Ed Sheeran weaves Persian music into new song, Azizam    Al-Jadaan: Crown Prince's directives confirm government's ability to bring back balance to real estate market    Saudi Crown Prince, Iranian president discuss regional developments in Eid phone call    Veteran Bollywood actor Manoj Kumar dies at 87    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    Aubameyang fires Al Qadsiah into King's Cup final with stoppage-time winner over Al Raed    Musk's X is suing India, as Tesla and Starlink plan entry    Tesla sales plunge after backlash against Elon Musk    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    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    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 Arabia Showcases Strategic Opportunities to Defence and Security Investors in South Korea
Published in Saudi Press Agency on 18 - 10 - 2021

The General Authority of Military Industries (GAMI), Saudi Arabia's defense industry regulator, enabler, and licensor, has hosted a workshop with Korean investors on the sidelines of the 2021 Seoul International Aerospace Defense Exhibition (Seoul ADEX) in Seoul, South Korea.
The event, titled 'Flourishing Opportunities in Saudi Arabia's Defense Sector', included representatives from GAMI, Saudi Arabian Military Industries (SAMI) and the Ministry of Investment Saudi Arabia (MISA). The Saudi participants met more than 40 Korean companies at the workshop, including representatives from the Korean defense, logistics, technology, and industrial sectors. Key areas of discussion included details on Saudi Arabia's current defence industry ecosystem, the National Defense Industry Strategy, and the wide variety of channels through which investors can access supply chain opportunities in the sector.
Welcoming investors at the workshop, GAMI's Governor Eng. Ahmad Al-Ohali, said, "We are excited to meet with our Korean business partners as we explore the huge investment opportunities within Saudi Arabia's expanding defense industry." He continued, "The Kingdom is establishing strategic partnerships with companies from all over the world. In less than 2 years, around 100 companies have successfully obtained licenses to operate in the Kingdom's defense sector."
Seoul ADEX, held at Seoul Airport on October 19th-22nd, brings together around 50,000 attendees and 400 air defense companies from 30 countries, and is one of the most renowned defense shows in Asia.
Saudi Arabia's attendance at Seoul ADEX follows the recent unveiling by GAMI of the Kingdom's new supply chain initiative. The initiative identified 74 targeted localization opportunities worth billions of dollars to the defense sector. The investment targets are open to local and international companies via the Military Industry Marketplace (MIM), a digital platform offering investors easy access to localization opportunities and partners.
By linking the local sector with authorized international investors, the Kingdom is strengthening its efforts to localize more than 50% of defense spending by 2030.


Clic here to read the story from its source.