Saudi Arabian Military Industries is charged with boosting domestic industry and increasing technology transfer into local sectors. And it is Walid Abukhaled, the CEO of the defense conglomerate, who must accomplish these goals.
A Saudi defense industry conglomerate has signed separate agreements at the International Defence Exhibition and Conference with an Emirati economic group and a Belarusian government organization with the aim of creating joint ventures.
In a first for the United Arab Emirates and Saudi Arabia, their respective defense industry conglomerates signed a deal to produce the four-wheel drive JAIS vehicle, developed by Emirate firm Nimr, in Saudi Arabia.
Saudi Arabia announced Feb. 15 that it plans to stop signing contracts with foreign companies that don’t have their Mideast headquarters in the kingdom, state-run media reported, a bold move that could escalate business competition in the region.