Saudi Federation of Chambers Forms First National Committee for Military Industries
The Saudi Federation of Chambers announced the establishment of the first national committee of its kind dedicated to military industries, electing Salman bin Nasser Al Shethri as the Chairman and Ziyad bin Abdulaziz Al Muhaimeed as the Vice-Chairman for the term (2023-2026).
This marks the first occasion that a committee focusing on the military industries sector has been formed under the umbrella of the private sector, represented by the Saudi Federation of Chambers. The committee aims to work in collaboration with relevant organizations and bodies, such as the General Authority for Military Industries and the Saudi Military Industries Company, among others.
This initiative aligns with new strategies promulgated by the Federation, aimed at keeping pace with the Kingdom's modern economic sectors highlighted in Vision 2030, including the military industries sector. Vision 2030 targets the organization and development of the Kingdom's military industries, aiming for over 50% localization by the year 2030.