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Home Middle East

Saudi Arabia Signs 27 Deals Worth 30 Billion Riyals

February 9, 2024
Saudi Arabia Signs 27 Deals Worth 30 Billion Riyals
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The Ministry of Defense, as the principal partner of the World Defense Exhibition 2024, concluded its participation in the exhibition held under the patronage of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud in the capital, Riyadh. 

The event was organized by the General Authority for Military Industries, with the participation of over 750 exhibitors from around the world.

Through its pavilion at the exhibition, the Ministry showcased its heritage, historical transformations, defensive and military capabilities, as well as its future and development program.

Several senior leaders of the Ministry of Defense participated in seminars and discussion sessions at the Future Defense Forum held on the sidelines of the exhibition, attended by prominent figures, government officials, and leaders of global and local companies.

The Royal Saudi Air Force fighter jets and the Saudi Falcons aerobatic team presented various aerial displays during the days of the World Defense Exhibition.

Additionally, the health services of the Ministry of Defense provided medical clinics staffed with medical and health personnel to offer medical care to participants and visitors of the exhibition.

During the World Defense Exhibition, the Ministry of Defense signed 27 contracts and two memoranda of understanding with local and international companies specialized in defense and security, with a total value exceeding 20 billion riyals.

The contracts and memoranda of understanding aim to enhance the capabilities of the armed forces branches and improve their combat efficiency, in addition to contributing to supporting and localizing domestic manufacturing in line with the goals of Vision 2030 of the Kingdom, which aims to localize over 50% of spending on military equipment and services.

Tags: Saudi Arabia
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