Saudi aviation companies join forces to boost Kingdom’s defense capabilities

Updated 14 November 2017

Saudi aviation companies join forces to boost Kingdom’s defense capabilities

DUBAI: Several Saudi aviation companies have formed an alliance to manufacture airplanes in the Kingdom. The companies signed a memorandum of understanding on the sidelines of the Dubai Airshow on Monday morning.
The initiative was launched by TAQNIA Aeronautics, a subsidiary of the Saudi Technology Development and Investment Co. (TAQNIA), and fits with the aims of Vision 2030 to nationalize the aviation industry and raise domestic industrial output by 50 percent.
The memorandum was signed by the CEOs of TAQNIA Aeronautics, TAQNIA Defense and Security Technologies, Middle East propulsion Co., the Al-Salam Aerospace Industries, the Advanced Electronics Co., the Advanced Arabian Simulation Co., the Saudia Aerospace Engineering Industries, the Aircraft Accessories and Components Co., and the Saudi Rotorcraft Support Co.
The memorandum signals the alliance’s intent to establish three production lines for airplanes in the Kingdom to manufacture, test, supply and maintain three types of aircraft: The Ukrainian Antonov AN-132, the multipurpose American Black Hawk helicopter and drones.
The agreement includes manufacturing airframes and installing and testing high-tech defense technology.
The CEO of TAQNIA Aeronautics, Ali bin Mohammed Al-Ghamdi, a retired major general, said the alliance was open to all qualified Saudi companies in the aviation industry, in a bid to achieve integration, not to create competition, and in order to ensure high profits in the medium to long term.
Abdullah Al-Omary, CEO of the Middle East Propulsion Co., said it is the only company in the Kingdom that maintains and manufactures military aircraft engines. He added that his company has served the Saudi Royal Air Force for over 16 years, and “Saudi Arabia owns 82 percent of the company.”
Hamad Al-Yousefi, CEO of TAQNIA Defense and Security Technologies, said that his company looks forward to cooperating with TAQNIA Aeronautics on the alliance’s projects.
Saudia Aerospace Engineering Industries CEO Ali bin Abdullah Al-Ashban said that the agreement will include the limited manufacturing of spare parts for air-defense aircraft and other aircraft used to support military operations “in order to nationalize this industry and accommodate the increasing demand for it.”


Ivanka Trump applauds Saudi Arabia’s reforms advancing economic role for women

Updated 17 January 2020

Ivanka Trump applauds Saudi Arabia’s reforms advancing economic role for women

  • Saudi women in business have lauded the Vision 2030 strategy for being the key driver in helping them to realize their ambitions

The United States President’s daughter and advisor, Ivanka Trump, praised on Friday Arab states for the progress they have made in their reforms highlighted in a World Bank Report.

“Great seeing some big progress in countries with the most improved scores this year in the World Bank WBL (Women, Business and the Law) report,” she said, referring to several countries mentioned in the report, including Saudi Arabia, the United Arab Emirates, Bahrain, Jordan and Tunisia.

 

The World Bank’s annual “Women, Business, and the Law” report ranked Saudi Arabia top among 190 countries for its progress in bringing about reforms related to female involvement in economic development and entrepreneurship.  

According to the World Bank’s figures for 2020, Saudi Arabia scored 70.6 out of 100 for progress achieved in the integration of women into the labor market. The report’s findings also placed the country first among Gulf states, and second in the Arab world for meeting the criteria.

Saudi women in business have lauded the Vision 2030 strategy for being the key driver in helping them to realize their ambitions.