Saudi Arabian Military Industries Signs Agreements with Turkish Firms to Localize Defense Businesses
In a significant move towards localization and advancement in the defense industry, Saudi Arabian Military Industries (SAMI) has sealed three agreements with top Turkish firms in the fields of aviation, space, and technology.
Strategic Partnerships
The agreements were signed with Turkiye’s leading companies – drone maker Baykar, tech firm Fergani Space, and aerospace and defense company Aselsan. These partnerships are aimed at boosting local defense capabilities and align with the goals set by Saudi Vision 2030.
Localizing Defense Spending
SAMI is committed to localizing 50 percent of the Kingdom’s total government defense spending, and these agreements play a crucial role in achieving that target. The company also aspires to be among the top 25 defense industry companies globally by the year 2030.
Enhancing Capabilities
The signing ceremony was attended by Saudi Arabia’s Minister of Defense Prince Khalid bin Salman bin Abdulaziz, who emphasized the importance of these agreements in enhancing capabilities and contributing to the development of the national defense industry.
Technological Advancements
The agreements involve various aspects such as establishing manufacturing capabilities for drones, developing systems for unmanned aerial vehicles, setting up centers of excellence for emerging technologies, and exploring opportunities for advanced electronics technologies.
Boosting Business Ties
The signings took place during a visit to Turkiye by Saudi officials, including Minister of Municipal, Rural Affairs and Housing Majid Al-Hogail, who attended a forum aimed at boosting ties between businesses in the two countries. The forum focused on enhancing cooperation and creating partnerships to support the private sector and attract international investments.