Saudi: GAMI Signs MoUs to Establish Military Industrial Facilities

Representatives of Saudi General Authority for Military Industries (GAMI), Ministry of Industry and Mineral Resources, and the Royal Commission of Jubail and Yanbu (RCJY) sign the agreements (Asharq Al-Awsat)
Representatives of Saudi General Authority for Military Industries (GAMI), Ministry of Industry and Mineral Resources, and the Royal Commission of Jubail and Yanbu (RCJY) sign the agreements (Asharq Al-Awsat)
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Saudi: GAMI Signs MoUs to Establish Military Industrial Facilities

Representatives of Saudi General Authority for Military Industries (GAMI), Ministry of Industry and Mineral Resources, and the Royal Commission of Jubail and Yanbu (RCJY) sign the agreements (Asharq Al-Awsat)
Representatives of Saudi General Authority for Military Industries (GAMI), Ministry of Industry and Mineral Resources, and the Royal Commission of Jubail and Yanbu (RCJY) sign the agreements (Asharq Al-Awsat)

Saudi Arabia has concluded a number of agreements to establish military industrial facilities to help stimulate the industry and enable the local manufacturing of military products.

The Saudi General Authority for Military Industries (GAMI) signed two memoranda of cooperation with the Ministry of Industry and Mineral Resources, and the Royal Commission of Jubail and Yanbu (RCJY) to stimulate, empower, and localize military industries in the Kingdom. 

The agreements provide a comprehensive governance of supply chains for the military and civil industrial sector, enhance coordination, and unify efforts and effective joint action to support the development of military industries.

The governor of GAMI, Ahmed al-Ohali, stressed the importance of localizing the military industry and called for enhancing joint operation between all parties to ensure the sustainability of the sector and raise levels of transparency and efficient spending.

Under this agreement, local and international manufacturers will have the appropriate investment environment to build Saudi Arabia’s targeted industrial capabilities, according to Ohali.

He noted that this will lead to a large supply chain that serves the military and civil industrial sectors.

Deputy Minister of Industry and Mineral Resources Osama al-Zamil stressed that GAMI will govern and unify the procedures of factories that manufacture both civil and military products.

Zamil also indicated that cooperation and coordination will be ensured to serve the supply chains of military industries, promote local content, and provide incentives for investment.

The deputy minister noted that the agreements will be established after determining the requirements for issuing industrial licenses to military factories, and customs exemptions for production in the military industries sector.

Military expert retired Major General Mohammed al-Ghamdi indicated that such cooperation is vital.

Ghamdi told Asharq Al-Awsat that the cooperation between the Authority, the Ministry, and the Royal Commission in Jubail and Yanbu increases the Kingdom’s military power and contributes to the localization of the military industry, which is one of Vision 2030’s goals.

The expert stressed that such a step enhances Saudi Arabia's strategic independence and raises its military and security preparedness.

He added that increasing levels of coordination and joint efforts will contribute to establishing successful military industrial facilities.



Morocco’s Royal Air Maroc Scales Back Flights Due to Fuel Costs

 People board a Royal Air Maroc flight on July 15, 2020 at Bordeaux airport. (AFP)
People board a Royal Air Maroc flight on July 15, 2020 at Bordeaux airport. (AFP)
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Morocco’s Royal Air Maroc Scales Back Flights Due to Fuel Costs

 People board a Royal Air Maroc flight on July 15, 2020 at Bordeaux airport. (AFP)
People board a Royal Air Maroc flight on July 15, 2020 at Bordeaux airport. (AFP)

Morocco's state-owned carrier Royal Air Maroc (RAM) said on Saturday it would temporarily suspend several routes to African and European destinations due to ‌rising jet ‌fuel prices, ‌elevated ⁠operating costs and ⁠weak demand.

Tensions in the Middle East have driven a surge in global jet fuel ⁠prices, putting ‌pressure ‌on carriers and ‌prompting temporary route suspensions.

RAM ‌will pause flights linking Moroccan airports with several African cities ‌of Bangui, Brazzaville, Kinshasa, Douala, Yaounde and ⁠Libreville, ⁠the airline said in a statement.

It will also halt flights to the European destinations of Malaga, Barcelona, Lyon, Bordeaux, Marseille and Brussels.


Official: Iraq Has Not Yet Applied for an IMF Loan

A floating oil export platform in Basra port, Iraq (Reuters)
A floating oil export platform in Basra port, Iraq (Reuters)
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Official: Iraq Has Not Yet Applied for an IMF Loan

A floating oil export platform in Basra port, Iraq (Reuters)
A floating oil export platform in Basra port, Iraq (Reuters)

Financial Advisor to the Iraqi Prime Minister Mazhar Mohammed Saleh revealed on Saturday that Iraq has not yet submitted a formal request for a loan from the International Monetary Fund (IMF).

The Iraqi News Agency quoted Saleh as saying that “Iraq enjoys close relations with the IMF, and since 2003, it has concluded more than five agreements, three of which were Stand-by Arrangements, while the other agreements related to emergency support.”

Iran's war has caused significant disruptions in supply chains, especially in the energy sector, which was severely affected by a near-complete closure of the Strait of Hormuz, through which about 20 percent of global oil supplies pass.

Saleh stated that “the Fund has played a significant role in supporting the Iraqi economy over the past 23 years, especially since Iraq is now considered one of the biggest victims of the ongoing war in the region, considering that 85 percent of its oil exports pass through the Strait of Hormuz. This has caused significant harm and international concern, given that Iraq is an important and active member in the stability of the region and world markets.”

He pointed out that there is an Iraqi government team in contact with the IMF, meeting with Fund officials for consultations twice a year.

He clarified that “Iraq signed an agreement with the IMF on July 7, 2016, for a Stand-by Arrangement by providing a significant loan, which played a major role in supporting the general budget,” noting that “signing an agreement with the Fund is a matter decided by the Iraqi government, and this does not prevent consultations between the two parties, as Iraq is a member of this institution responsible for global stability.”

Saleh mentioned that “Iraq will borrow from the International Monetary Fund if the need arises, but there is no formal request from the government yet, and the current need is for the war in the region to stop, and for its geopolitical impacts on oil exports to cease.”

He added that “technical assistance from the IMF is available now, unlike the issue of financing, which requires the approval of a program by the Iraqi government.”

He explained that “the loan itself represents a reform program to support the budget or to achieve social goals, such as supporting the health and education sectors, because it is a human investment that must be subject to conditions defining expenditure directions and commitment to a reform program agreed upon by the Iraqi state and the IMF.”


Mawani Adds CMA CGM’s Ocean Rise Express Service to Jeddah Port

Mawani Adds CMA CGM’s Ocean Rise Express Service to Jeddah Port
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Mawani Adds CMA CGM’s Ocean Rise Express Service to Jeddah Port

Mawani Adds CMA CGM’s Ocean Rise Express Service to Jeddah Port

The Saudi Ports Authority (Mawani) has added CMA CGM's Ocean Rise Express (OCR) shipping service to Jeddah Islamic Port, aiming to strengthen maritime connectivity between Saudi Arabia and global markets, support the smooth flow of supply chains, and increase the efficiency of port operations.

The OCR service will connect Jeddah to key international ports, including Kobe, Nagoya, and Yokohama in Japan; Xiamen, Yantian, and Nansha in China; Rotterdam in the Netherlands; Hamburg in Germany; and Southampton in the United Kingdom.

The route will utilize vessels with a capacity of up to 10,000 TEUs, according to SPA.

This addition aligns with Mawani’s efforts to enhance Jeddah Islamic Port’s global competitiveness and support international trade.

By enabling access to new markets, the initiative reinforces the Kingdom's position as a global logistics hub in line with the National Transport and Logistics Strategy and Saudi Vision 2030.