SAMI to Mark Inaugural Participation at AFED 2018 with state-of- the-art Product Showcase
Saudi Arabian Military Industries (SAMI), a Public Investment Fund (PIF) wholly-owned company, today announced its inaugural involvement at the Army Exhibit for Diversity of Requirements and Capabilities(AFED), as a strategic partner of the 2018 edition from February 26 th to March 03 rd at the Riyadh International Convention & Exhibit Facility.
AFED 2018 is being held under the patronage of King Salman Bin Abdulaziz Al Saud, Prime Minister and Custodian of the Two Holy Mosques and the directives of HRH Prince Mohammed Bin Salman Bin Abdulaziz Al Saud, Crown Royal Prince, First Deputy Prime Minister, Minister of Defense, and Chairman of the Council of Economic and Development Affairs. Dr. Andreas Schwer, CEO, SAMI, said, "Saudi Arabia is just one of the leading five nations worldwide in terms of military spends, and the establishment of SAMI was an ambitious yet extremely important action as part of the country's strategy to center and globalize its army production industry. We intend to achieve this goal by constructing strong local abilities in the military markets area, internalizing global trends and advancements, integrating the most up to date technologies with the very best nationwide skill, enhancing exports, and bringing foreign financial investment right into the Kingdom's military industries sector.
We believe that AFED 2018 offers the best chance to not simply understand the Kingdom's military production requirements, however likewise to consult with numerous similar companies and defense business from across the world. We anticipate that our participation will open doors to several collaboration conversations and future long-term partnerships, laying the foundation for SAMI to make it possible for the accomplishment of the Saudi Vision 2030 by centering 50 percent of federal government army investing, and turn into one of the leading 25 military markets companies on the world, included Schwer.
With a strategic framework in position, SAMI aims to add around SAR 14 billion straight to Saudi Arabia's GDP, raise the value of national exports by about SAR 5 billion, spend over SAR 6 billion for research and development, and produce over 40,000 straight tasks in your area, by the year 2030.
SAMI also works with raising local web content and developing a lasting and successful military industries market in Saudi Arabia were the primary factors behind developing SAMI. AFED 2018 is a top-level occasion bringing together key industry stakeholders in the armed forces field.
The SAMI event stand leverages technological developments to highlight the company's genesis, critical vision, operational proficiencies and capabilities, and product or services profile.
SAMI provides a variety of military products and services that presently extend four business divisions, namely Aeronautics, Land Equipments, Defense and Missiles, and Protection.
Electronics, and has actually already authorized several MoU agreements within its initial year of procedures with globally renowned defense business, consisting of Boeing, Lockheed Martin, Raytheon, and General Dynamics, in order to support its development and growth.
