Saudi Firms Export Advanced Military Parts Abroad

The 2016 Armed Forces Exhibition for Diversity of Requirements and Capabilities. (AFED)
The 2016 Armed Forces Exhibition for Diversity of Requirements and Capabilities. (AFED)
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Saudi Firms Export Advanced Military Parts Abroad

The 2016 Armed Forces Exhibition for Diversity of Requirements and Capabilities. (AFED)
The 2016 Armed Forces Exhibition for Diversity of Requirements and Capabilities. (AFED)

General Department for Local Manufacturing Support General Director Engineer Atiyah al-Maleki affirmed that military factories in Saudi Arabia are manufacturing high-quality advanced military parts and units, which are being exported abroad.

He added that there is an aim to develop current military factories in the kingdom, lauding some firms on their commitment to produce and develop military parts ordered by beneficiaries.

“Project contracts related to military industries impose a 50 percent nationalization ratio. Factories are also obligated to manufacture the items locally, instead of importing them, once the capabilities are acquired,” Maleki told Asharq Al-Awsat.

With the launch of Decisive Storm and Restoring Hope military operations, an emergency team was formed to manufacture the military parts that are needed for these missions, he explained.

The private sector has been eager to present its capabilities in this field in order to market its products and strike partnerships with beneficiaries, he revealed.

In a related matter, the Saudi Ministry of Defense will organize the 2018 Armed Forces Exhibition for Diversity of Requirements and Capabilities at the Riyadh International Convention and Exhibition Center from February 25 to March 3.

Through the exhibition, the ministry aims to support the nationalization of the spare parts industries, inform the private sector about the armed forces requirements, establish communication channels to coordinate among beneficiaries, armed forces, factories, local and international companies and research parties and form a long-term strategic relation with the private sector.

Through this event, which is considered the greatest of its kind in the Middle East, the Ministry of Defense will have the opportunity to showcase its capabilities in the manufacturing of parts and units needed by the armed forces.



China to Focus on Stabilizing Housing Market in 2025, Housing Regulator Says

 A cleaner carrying a broom and a trash bin walks along a street in Beijing on December 24, 2024. (AFP)
A cleaner carrying a broom and a trash bin walks along a street in Beijing on December 24, 2024. (AFP)
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China to Focus on Stabilizing Housing Market in 2025, Housing Regulator Says

 A cleaner carrying a broom and a trash bin walks along a street in Beijing on December 24, 2024. (AFP)
A cleaner carrying a broom and a trash bin walks along a street in Beijing on December 24, 2024. (AFP)

Efforts will continue in 2025 to stabilize and prevent further declines in China's real estate market, China Construction News reported, citing a work conference held by the housing regulator on Tuesday and Wednesday.

China will vigorously promote the reform of the commercial housing sales system, and expand the scope of urban village renovation beyond the addition of 1 million units, the report said.

China will strictly control the supply of commercial housing, while increasing the supply of affordable housing to help solve the living problems of a large number of new citizens, young people and migrant workers, it said.

Policymakers have stepped up efforts to revive the real estate by introducing new measures to encourage home demand after a government-led campaign to rein in highly leveraged developers triggered a crisis in 2021.

Since September, measures aimed at encouraging homebuying have included cutting mortgage rates and minimum down-payments, as well as tax incentives to lower the cost of housing transactions.

The real estate market has shown some momentum of stabilizing, with home transactions in October and November seeing year-on-year and month-on-month growth for two consecutive months, said the conference.

China's home prices fell at the slowest pace in 17 months in November, supported by government efforts to revive the sector, official data showed.

An official of the Central Financial and Economic Affairs Commission in December called for policy measures with direct impact on stabilizing the real estate market to be adopted as soon as possible, with local governments getting greater autonomy to buy housing stock.