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AlKhorayef to Asharq Al-Awsat: Incentives Offered to Empower Military Industries Investors

Saudi Minister of Industry and Mineral Resources Bandar AlKhorayef during his tour of the World Defense Show. (X)
Saudi Minister of Industry and Mineral Resources Bandar AlKhorayef during his tour of the World Defense Show. (X)
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AlKhorayef to Asharq Al-Awsat: Incentives Offered to Empower Military Industries Investors

Saudi Minister of Industry and Mineral Resources Bandar AlKhorayef during his tour of the World Defense Show. (X)
Saudi Minister of Industry and Mineral Resources Bandar AlKhorayef during his tour of the World Defense Show. (X)

Saudi Minister of Industry and Mineral Resources Bandar AlKhorayef shared with Asharq Al-Awsat that there are direct incentives for investors in the country’s military industries.

These incentives cover loans, industrial purposes, local content in national products, pre-purchase contracts, and other support tools.

AlKhorayef emphasized the ministry’s collaboration with various entities and the General Authority for Military Industries (GAMI) to support the Kingdom’s growing military sector.

He revealed efforts to build a strong industrial base, focusing on key industries like iron, aluminum, advanced technologies, electronics, and advanced chemicals such as plastics.

The minister highlighted the joint efforts with the military system, creating opportunities for industries that serve both sectors. He confirmed the availability of specific incentives for military industries based on Saudi Arabia’s needs.

AlKhorayef also pointed out that the industrial system provides various incentives to empower investors, including financial support and other facilitative components.

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Saudi Arabia, Comoros Sign MoU on Economic Cooperation

The MoU underscores the exchange of knowledge to boost economic collaboration. SPA
The MoU underscores the exchange of knowledge to boost economic collaboration. SPA
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Saudi Arabia, Comoros Sign MoU on Economic Cooperation

The MoU underscores the exchange of knowledge to boost economic collaboration. SPA
The MoU underscores the exchange of knowledge to boost economic collaboration. SPA

The Saudi Ministry of Economy and Planning and the Ministry of Economy, Industry and Investment of Comoros have signed a memorandum of understanding (MoU) to establish a framework for enhancing and diversifying economic cooperation based on mutual interest.
The MoU, signed by the Saudi Minister of Economy and Planning Faisal Alibrahim and Minister of Economy, Industry, and Investment of the Comoros Moustoifa H. Mohamed, outlines key objectives aimed at strengthening economic ties between the two countries.

It underscores the exchange of knowledge to boost economic collaboration, fostering communication and cooperation between government entities and the private sector.
The MoU also seeks to facilitate visits, communications, and events that promote interaction between individuals, officials, and economic institutions. Furthermore, it highlights the importance of supporting the participation of small and medium-sized enterprises (SMEs) in bilateral economic activities.