Public, private sectors to partner in armament parts manufacturing

Public, private sectors to partner in armament parts manufacturing
Updated 20 December 2012

Public, private sectors to partner in armament parts manufacturing

Public, private sectors to partner in armament parts manufacturing

The recent Armed Forces Exhibition has led to stronger ties between private and public sector companies who manufacture equipment for the Kingdom’s military, Saad Al-Moajil, chairman of the National Industrial Committee at the Council of Saudi Chambers, said Tuesday.
The Armed Forces Exhibition for Spare Parts and Materials 2012 was organized by the Ministry of Defense to inform private enterprises about investment opportunities in the manufacture of parts for armaments.
Al-Moajil said: “This exhibition not only strengthened the ties between the public and private sector, it created a conducive environment within the national industrial sector to manufacture parts for military equipment according to world-class defense specifications.
“The Saudi business sector and the industrial sector greatly appreciate the efforts of the Ministry of Defense and Armed Forces under the leadership of Deputy Defense Minister Prince Khalid bin Sultan, in paving the way for private sector participation.”
The exhibition was an opportunity for private businesses to establish long-term partnerships and future contracts with the Ministry of Defense and potentially save billions of riyals from being spent outside the Kingdom.
Al-Moajil said private and public sector cooperation like this would enhance local industry and provide thousands of job opportunities for young Saudis.
Co-sponsors of the Armed Forces exhibition included Saudi Aramco, SABIC, Saline Water Conversion Corporation and the Saudi Electricity Company.
A similar exhibition was held in the Eastern Province earlier this month by the Ministry of Defense in cooperation with the Asharqia Chamber and the Dhahran International Exhibition Center.
A spokesman for the exhibition center said: “The exhibition aimed to promote communication between the armed forces and local companies to establish an industry for the manufacture of parts used in military equipment.”