ABU DHABI: Saudi Arabia’s pavilion at the International Defense Exhibition (IDEX) 2021 was inaugurated on Sunday.
The event was headed by the governor of the General Authority for Military Industries (GAMI), Ahmed bin Abdul Aziz Al-Ohali, who is leading the Saudi delegation at the exhibition.
The Kingdom’s pavilion, titled “Invest in Saudi Arabia,” is organized by the authority. It features a number of major Saudi defense and security institutions and companies, together with the Ministry of Investment.
IDEX 2021 is being held from Feb. 21-25 at the Abu Dhabi National Exhibition Center in the UAE.
Al-Ohali spoke on Saturday at the first session of the conference accompanying the IDEX 2021 exhibition, “Exploring Innovative Opportunities in Managing the Supply Chain Ecosystem Outside the COVID-19 Pandemic.”
He said that GAMI is looking to raise the localization rate in the defense sector by more than 50 percent of government spending on military services and equipment by 2030.
The authority also wants an increase in spending on military research and technology from 0.2 percent to 4 percent, he added.
He said that the sector supports digital transformation in supply chains, and that the Kingdom’s position at the heart of the global supply chain makes it a natural location for defense investment.
Al-Ohali and his delegation were briefed on distinguished Saudi products on display at the exhibition.
Saudi companies taking part in the event showcase their latest products and equipment, and can discuss partnerships with the most prominent players in the global defense sector.
The Saudi pavilion is expected to result in several key agreements between local Saudi companies and international corporations.
Al-Ohali said that the Kingdom’s pavilion provides a platform to develop the industry by creating partnerships, exchanging knowledge and expertise, and transferring technology.
He added that the Kingdom “attaches great importance” to defense and national security, and that the Saudi presence at the event will support potential investors and their entry into the military and security sector.