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SAUDI ARABIA, SKOREA DISCUSS DEFENCE COOPERATION

Our Bureau - : Oct 20, 2021 - : 1:11 pm

Saudi Arabia and South Korea are exploring opportunities to strengthen bilateral cooperation in the defence sector. The General Authority of Military Industries (GAMI), Saudi Arabia’s defence industry regulator, enabler, and licensor, hosted a workshop with Korean investors on the sidelines of the ongoing ADEX. Representatives from GAMI, Saudi
Arabian Military Industries (SAMI) and the Ministry of Investment Saudi Arabia (MISA) attended the workshop titled ‘Flourishing Opportunities in Saudi Arabia’s Defense Sector’.

GAMI’s Governor 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 DEFENCE INDUSTRY.”

Meanwhile, South Korea’s Vice Defense Minister Park Jae-min and the chief of the General Staff of Saudi Arabia’s armed forces Fayyadh bin Hamed Al-Ruwaili also discussed defence cooperation. 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.

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