Saudi Arabia, a Center for Spreading Culture of Economic Reforms Globally

Saudi Arabia was chosen as a knowledge center due to its pioneering experience over the past years. (SPA)
Saudi Arabia was chosen as a knowledge center due to its pioneering experience over the past years. (SPA)
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Saudi Arabia, a Center for Spreading Culture of Economic Reforms Globally

Saudi Arabia was chosen as a knowledge center due to its pioneering experience over the past years. (SPA)
Saudi Arabia was chosen as a knowledge center due to its pioneering experience over the past years. (SPA)

Saudi Arabia and the World Bank Group announced on Friday their intention to establish a knowledge center in the Kingdom as part of their efforts to spread the culture of economic reforms globally.

Speaking in Washington, Saudi Minister of Commerce Dr. Majid Al-Qasabi said this step emphasizes the great progress the Kingdom has achieved in global competitiveness reports and indicators, thanks to economic reforms implemented with the support and directives of Prince Mohammed bin Salman, Crown Prince and Prime Minister.

He added that the center will pave the way for further regional and global cooperation in the areas of competitiveness and will allow benefiting from Saudi Arabia’s abilities to implement economic reforms and from the World Bank’s experience that extends for more than 50 years.

The World Bank has chosen Saudi Arabia as the knowledge center to spread the culture of economic reforms in view of its pioneering experience over the past seven years, during which the Kingdom successfully applied an integrated business model that achieved its desired goals.

A founding committee, which includes the Ministries of Finance and Economy and Planning and relevant government agencies, is participating in preparations to establish the center.

In Washington, Al-Qasabi held meetings with Ajay Banga, President of the World Bank Group, and senior experts to discuss the latest initiatives to facilitate cross-border trade by simplifying customs procedures and regulations.



SAMI to Showcase Cutting-Edge Innovations at Saudi Pavilion at IDEX 2025

SAMI to Showcase Cutting-Edge Innovations at Saudi Pavilion at IDEX 2025
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SAMI to Showcase Cutting-Edge Innovations at Saudi Pavilion at IDEX 2025

SAMI to Showcase Cutting-Edge Innovations at Saudi Pavilion at IDEX 2025

The Saudi Arabian Military Industries (SAMI), a Public Investment Fund company, announced on Sunday its participation in the International Defense Exhibition and Conference (IDEX) 2025 under the Saudi Pavilion led and organized by the General Authority for Military Industries (GAMI).

The exhibition is scheduled to take place from February 17 to 21 in Abu Dhabi, UAE.

The Saudi Pavilion will bring together leading Saudi government agencies and companies specialized in the field of military industries, where SAMI will showcase its latest products across its various divisions.

In a statement, SAMI said key exhibits will feature SAMI Land’s upgraded SAMI Light Armored Tactical Vehicle (SLTV) with new and improved specifications, and ROAYA, the Remote Turret—both cutting-edge products designed and built entirely in Saudi Arabia.

SAMI AEC will showcase its innovations in command, control, communications, and intelligence (C4I) systems, alongside other advanced systems and products.

As Saudi Arabia’s leading national defense partner, SAMI's presence at IDEX 2025 underscores its commitment to supporting Vision 2030’s goal of localizing 50% of the Kingdom’s defense spending.

"Through its participation, SAMI highlights the remarkable growth and transformation within the Kingdom’s defense sector, fostering innovation, empowering national talent, and strengthening Saudi Arabia’s position on the global stage," said the statement.