WDS: Saudi defense regulator GAMI calls for investment, trade for ‘collective growth’
An increased knowledge exchange, trade, and investment in the defense sector is “key to our collective growth,” Ahmad Abdulaziz al-Ohali, Governor of the General Authority for Military Industries (GAMI), said at the opening of the World Defense Show in Riyadh on Sunday.
The head of the defense regulation authority in the Kingdom, speaking at the second edition of security and defense trade show, said that Saudi Arabia was “committed to exploring new avenues of cooperation in the defense and security industry.”
The sector is expected to contribute as much as $25 billion (SAR93.75 billion) to the country’s GDP by 2030. It is also expected to support 40,000 direct and 60,000 indirect job opportunities, according to government estimates.
The show opened to media and select visitors on Sunday for a preview. The Saudi Defense Minister Prince Khalid bin Salman was seen exploring some of the stalls and hearing from the exhibitors.
On the sidelines, the Saudi defense minister met with his Slovakian counterpart, Robert Kaliňák, and British counterpart, Grant Shapps.
The Saudi Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef met with the Russian trade minister Denis Manturov to discuss ways to enhance cooperation in industrial mining. The Saudi minister also met with executives from Airbus and Boeing.
Various agreements and MoUs were signed between Saudi government entities and with international firms.
The Saudi air force’s aerobatics team, The Falcons, conducted air shows above the purpose-built indoor-outdoor venue with a functional airstrip about 70 kilometers (43.4 miles) from the city center.
China’s Bayi Aerobatic Team are expected to conduct aerial shows.
The defense show will run for five days and feature over 750 exhibitors from over 65 countries, over 23 of which are featuring for the first time in the Kingdom. It marks an increase from 2022 which saw around 600 exhibitors and resulted in nearly $8 billion in total orders and agreements.
This year’s theme is “Equipped for Tomorrow.” Exhibitor space reportedly sold out five months ahead of the start of the event, despite a 25 percent increase in space.
