Saudi Arabia plans to build its own defence industry

2018/03/1520229198.jpg
Read: 966     14:26     05 March 2018    

Crown Prince Mohammed plans to have half of the Saudi procurement done locally by 2030


Saudi Arabia aims to build a defence industry at breakneck speed, and it’s ready to look beyond its traditional Western allies for help.

The oil-rich kingdom has long been a favourite customer of arms sellers, especially American ones.

President Donald Trump announced $110 billion in deals during his trip there last year. Now, 32-year-old Crown Prince Mohammed bin Salman wants to make weapons at home, and he’s set an ambitious goal: Half of the Saudi procurement is supposed to be done locally by 2030, from about 2 percent today.

The Saudis will need partners - which means opportunities for Western companies, who were energetically exploring them at an arms fair in Riyadh this week. But there’s a potential catch. For joint ventures to work, US and European governments may have to sign off on transfers of technology.

Arabian Business



Tags: Saudi   defence  



News Line

Saudi Arabia plans to build its own defence industry

2018/03/1520229198.jpg
Read: 967     14:26     05 March 2018    

Crown Prince Mohammed plans to have half of the Saudi procurement done locally by 2030


Saudi Arabia aims to build a defence industry at breakneck speed, and it’s ready to look beyond its traditional Western allies for help.

The oil-rich kingdom has long been a favourite customer of arms sellers, especially American ones.

President Donald Trump announced $110 billion in deals during his trip there last year. Now, 32-year-old Crown Prince Mohammed bin Salman wants to make weapons at home, and he’s set an ambitious goal: Half of the Saudi procurement is supposed to be done locally by 2030, from about 2 percent today.

The Saudis will need partners - which means opportunities for Western companies, who were energetically exploring them at an arms fair in Riyadh this week. But there’s a potential catch. For joint ventures to work, US and European governments may have to sign off on transfers of technology.

Arabian Business



Tags: Saudi   defence