By Politico Staff Writer
The Deputy Minister of Defence of the Republic of Sierra Leone, Retired Colonel Muana Brima Massaquoi has graced the inauguration ceremony of the Second Edition of the World Defence Show (WDS) held in Riyadh, Kingdom of Saudi Arabia on the 4th February 2024.
Rtd Colonel Massaquoi expressed optimism that the country would continue fostering collaboration and partnerships with the General Authority for Military Industries (GAMI) Saudi Arabia for common interest on issues relating to defence and global security.
The six-day WDS event which ends on the 9th of February 2024, serves as a platform where the global defence industry can convene, connect and gain valuable insight and access to the latest innovation-driven defence & security solutions. The event organized by GAMI, is also aimed at showcasing Saudi Arabia's commitment to becoming a global hub for the defence industry.
The Minister of Defence and Vice Chairman of the Board of Directors of GAMI, Prince Khalid bin Salman bin Abdulaziz, officially inaugurated the World Defence Show 2024 in Riyadh on Sunday.
During the inauguration, Prince Khalid and other senior officials inspected the air shows and static aircraft displays.
The Governor of GAMI, Ahmad Abdulaziz Al-Ohali, expressed gratitude to the Custodian of the Two Holy Mosques and Prince Mohammed bin Salman bin Abdulaziz for their unlimited support. He stated that the show provides an ideal environment for fostering international partnerships in the defence and security industry, aligning with the Kingdom's vision through technology transfer and skills development.
He noted that the support enhances the Kingdom's strategic independence and backs the ambitious goals of Vision 2030, which aims to localize 50% of defence expenditure. He said that the Kingdom has started to reap the benefits of this support, with localization rates increasing from 4% to 13.6% at the end of 2022.
The Governor also disclosed that 477 (four hundred and seventy-seven) foundational permits and licenses have been issued for 265 (two hundred and sixty-five) companies operating in the defence industries sector and over 74 investment opportunities have been provided for supply chain localization. He said that the sector's contribution to the Gross Domestic Product (GDP) is expected to reach approximately 93.75 billion Saudi Arabian Riyals by 2030, adding that the sector is also expected to contribute an estimated total of 40,000 (forty thousand) direct and 60,000 (sixty thousand) indirect job opportunities.
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