Military Industries in Saudi Arabia Get a Boost with Formation of Special National Committee
In a groundbreaking move, the Federation of Saudi Chambers has announced the establishment of the first special national committee focused on the defense sector in the private industry.
This marks a significant milestone as it is the first time such a committee has been formed under the umbrella of the private sector, represented by the Saudi body.
The main objective of this committee is to work closely with relevant authorities and entities, including the General Authority for Military Industries and the Saudi Arabian Military Industries, among others, as reported by the Saudi Press Agency.
This initiative is in line with the federation’s new strategic directions, which aim to align with the modern economic sectors highlighted in Saudi Arabia’s Vision 2030.
Vision 2030 places a strong emphasis on organizing and localizing the Kingdom’s military industries sector, with a goal of achieving over 50 percent nationalization by the year 2030.
Additionally, the federation has announced the election of Salman Al-Shathri as president and Ziyad Al-Muhaimid as vice-president for the session 2023-2026.
The Federation of Saudi Chambers serves as the umbrella and sole legitimate representative of the Kingdom’s business community, encompassing all its diverse groups, sectors, and regions.