SAMI to mark inaugural participation at AFED 2018 with state-of-the-art product showcase

The Saudi Arabian Military Industries (SAMI), a Public Investment Fund
(PIF) wholly-owned company, today announced its inaugural participation
at the Armed Forces Exhibition for Diversity of Requirements and
Capabilities (AFED), as a strategic partner of the 2018 edition from
February 26th to March 03rd at the Riyadh International Convention &
Exhibition Center.

In a statement to Saudi Press Agency (SPA), Dr. Andreas Schwer, CEO
of SAMI, said, “the Kingdom of Saudi Arabia is one of the top five
countries in the world in terms of military spends, and the
establishment of SAMI was an ambitious yet highly critical step as part
of the country’s strategy to localize and globalize its military
manufacturing industry. We aim to achieve this goal by building strong
local capabilities in the military industries field, internalizing
global trends and developments, combining the latest technologies with
the best national talent, increasing exports, and bringing foreign
investment into the Kingdom’s military industries sector.”

“We believe that AFED 2018 offers the right opportunity to not just
understand the Kingdom’s military manufacturing requirements, but also
to meet with various like-minded organizations and defense companies
from across the world. We anticipate that our participation will open up
doors to several collaboration discussions and future long-term
partnerships, laying the cornerstone for SAMI to enable the achievement
of the Saudi Vision 2030 by localizing 50 percent of government military
spending, and become one of the top 25 military ?industries companies
in the world,” added Schwer.

With a strategic framework in place, SAMI aims to contribute around
SR14 billion directly to the Kingdom of Saudi Arabia’s GDP, increase the
value of national exports by about SR5 billion, invest over SR6 billion
for research and development, and create over 40,000 direct jobs
locally, by the year 2030.

SAMI also works on increasing local content and building a
sustainable and thriving military industries sector in Saudi Arabia were
the main reasons behind establishing SAMI. AFED 2018 is a high-level
event bringing together key industry stakeholders in the military field.

The SAMI exhibition stand leverages technological innovations to
highlight the company’s genesis, strategic vision, operational
competencies and capabilities, and product and service portfolio.

The Saudi Arabian Military Industries provides a range of military
products and services that currently span four ?business divisions,
namely Aeronautics, Land Systems, Weapons and Missiles, and ?Defense
Electronics, and has already signed several MoU agreements within its
first year of operations with internationally renowned defense
companies, including Boeing, Lockheed Martin, Raytheon, and General
Dynamics, in order to support its development and growth.

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