CEO of Thales Group: ‘Saudi Arabia is Prepared to Attract Global Investments’

Logo of Thales Group
Logo of Thales Group
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CEO of Thales Group: ‘Saudi Arabia is Prepared to Attract Global Investments’

Logo of Thales Group
Logo of Thales Group

Patrice Caine, Chief Executive of the multinational Thales Group, which designs and builds electrical systems and provides services for the aerospace, defense, transportation and security markets, said that the Saudi environment has become prepared more than ever to attract institutional investments on the global level.

Caine expected Riyadh to move to leading positions in this field in order to write a new chapter in its history of economic development, which reaches four percent annually.

CEO of the French-based group said that the qualitative change in Saudi exports is a very important indicator of the Kingdom's efforts to diversify the economy, with encouraging data showing the growth of non-oil exports at a rate that exceeds the growth rate of oil exports in recent years.

However, oil still constitutes the largest share of the country’s foreign sales, reflecting the volume of the challenge the Kingdom faces in order to achieve economic diversification.

During his visit to Riyadh and on the sidelines of his participation in the Future Investment Initiative recently, Caine told Asharq Al-Awsat that in order to enhance non-oil exports, the Saudi government has established the Saudi Export Development Authority (SEDA), which has undertaken the duty of promoting non-oil products at the external level in parallel with supporting local companies and helping them export their goods.”

“Within this framework, SEDA constitutes a step in the right direction towards creating an economic environment of an international character, which will enhance the economy, create jobs and accelerate growth."

Caine also said Thales is ready to participate in future changes in Saudi Arabia in the framework of joint research programs and to promote the development of local capacities to match the programs of Vision 2030 through technological innovation, digital transformation, creating exceptional opportunities and enhancing areas of technology such as artificial intelligence, digital security, smart and secured cities and self-transport.

Saudi economy is considered one of the largest economies on the level of the Middle East, according to Caine, who added that it constitutes one of the 20 most important markets in the world as it has been achieving four percent growth annually for the past 25 years, contributing to the creation of millions of new job opportunities.

He pointed out that Thales will boost its work in the region, especially in Saudi Arabia, in light of the great opportunities available to it within the various sectors in which it operates.



Yemeni Minister to Asharq Al-Awsat: Houthis Have Lost Nearly 30% of their Military Capabilities

This handout photo released by the US Defense Visual Information Distribution Service (DVIDS) shows a US F/A-18 Super Hornet attack fighter jet taking off from the US Navy's Nimitz-class USS Harry S. Truman aircraft carrier at sea on March 16, 2025. (Photo by Hunter DAY / DVIDS / AFP)
This handout photo released by the US Defense Visual Information Distribution Service (DVIDS) shows a US F/A-18 Super Hornet attack fighter jet taking off from the US Navy's Nimitz-class USS Harry S. Truman aircraft carrier at sea on March 16, 2025. (Photo by Hunter DAY / DVIDS / AFP)
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Yemeni Minister to Asharq Al-Awsat: Houthis Have Lost Nearly 30% of their Military Capabilities

This handout photo released by the US Defense Visual Information Distribution Service (DVIDS) shows a US F/A-18 Super Hornet attack fighter jet taking off from the US Navy's Nimitz-class USS Harry S. Truman aircraft carrier at sea on March 16, 2025. (Photo by Hunter DAY / DVIDS / AFP)
This handout photo released by the US Defense Visual Information Distribution Service (DVIDS) shows a US F/A-18 Super Hornet attack fighter jet taking off from the US Navy's Nimitz-class USS Harry S. Truman aircraft carrier at sea on March 16, 2025. (Photo by Hunter DAY / DVIDS / AFP)

The Iran-backed Houthis are in disarray over escalating American strikes targeting military and security sites, as well as weapons depots belonging to them, Yemeni Minister of Information Moammar Al-Eryani said, revealing that the group has lost nearly 30% of its military capabilities.

Al-Eryani told Asharq Al-Awsat that the recent strikes have directly hit "the military capabilities of the Houthi group, targeting mainly infrastructure related to ballistic missiles and drones, which were used to threaten international maritime navigation in the Red Sea, Bab el-Mandeb, and the Gulf of Aden."

US President Donald Trump had ordered the start of the military campaign against the Houthis on March 15, pledging to destroy their capabilities.

In the past four weeks, the Houthis have been hit by 365 air and naval strikes, field reports said. The campaign has been primarily targeting fortified bunkers and military warehouses, especially in the group's strongholds in the governorates of Saada, Sanaa, Amran, and Hodeidah.

"Our assessment, based on our field sources, is that the militia has lost 30% of its capabilities, and this number is rising as military operations continue,” Al-Eryani said.

The minister also spoke of "surprises” that will please Yemenis in the coming weeks.

Trump said Monday that the US campaign against the Houthis has been “very successful militarily.”

“We’ve really damaged them,” he said, adding that “we’ve gotten many of their leaders and their experts.”

The Yemeni Minister of Information considered the powerful strikes “as not enough to end the Houthi threat, especially since the militia is still receiving logistical support from Iran through multiple smuggling routes."

Last week, Britain’s The Telegraph quoted a senior Iranian official as saying that Iran had ordered military personnel to leave Yemen to avoid direct confrontation with the US.

Al-Eryani called for “keeping military, political, and economic pressure” on the Houthis and increasing control on the sources that provide arms to the Houthis. He also called for “supporting the legitimate forces to enable them to take control of all Yemeni territory."
Al-Eryani confirmed that the Houthis have recently suffered significant human losses at various leadership levels, yet the militias have avoided announcing such losses for fear of undermining the morale of their fighters.

Last month, Yemeni Defense Minister Lt. Gen. Mohsen Mohammed al-Daeri told Asharq Al-Awsat that the country’s armed forces and all military formations were at a high state of readiness to respond firmly to any Houthi attacks or provocations.

Al-Daeri said the Houthis bear full responsibility for the recent escalation, the imposition of international sanctions, and the militarization of regional waters, which have worsened the humanitarian and economic situation for Yemenis.