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Saudi Offers 76 Investment Opportunities in Military, Defense Industries

General Authority for Military Industries in Saudi Arabia organizes a workshop in the capital, Riyadh, to reveal investment opportunities (Asharq Al-Awsat)
General Authority for Military Industries in Saudi Arabia organizes a workshop in the capital, Riyadh, to reveal investment opportunities (Asharq Al-Awsat)
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Saudi Offers 76 Investment Opportunities in Military, Defense Industries

General Authority for Military Industries in Saudi Arabia organizes a workshop in the capital, Riyadh, to reveal investment opportunities (Asharq Al-Awsat)
General Authority for Military Industries in Saudi Arabia organizes a workshop in the capital, Riyadh, to reveal investment opportunities (Asharq Al-Awsat)

Saudi Arabia has revealed that it has an estimated 76 investment opportunities in six different areas of defense and military industries.

Ayma al-Hazmi, head of the Saudi Local Content and Government Procurement Committee at the Federation of Saudi Chambers, stressed that the General Authority for Military Industries plays important roles in supporting the process of localizing the sector, and contributing to strengthening the country's strategic independence to build local and sustainable industries.

Speaking at a workshop recently organized by the General Authority for Military Industries in Riyadh, al-Hazmi revealed that coordination is underway for maximizing the benefit of national companies from procurement contracts and military spending.

Al-Hazmi noted that coordination for enhancing the position of national companies in the military industry aligns with the Kingdom’s goals for localizing this sector and making it a part of its sustainable economic development.

The workshop also showcased the most prominent investment opportunities in supply chains across six areas in the military and defense industries sector.

The workshop also highlighted the roles and tasks of the authority aimed at embodying the national ambition to localize more than 50% of government spending on military equipment and services by 2030.

In other news, the Federation of Saudi Chambers, represented by the Saudi-French Business Council, participated in a meeting organized by the Movement of the Enterprises of France (MEDEF).

The meeting focused on investment opportunities in the mining sector in the Kingdom and was attended by representatives from the Ministry of Industry and Mineral Resources, the Ministry of Investment and several Saudi and French companies operating in the mining field.

Chairman of the Saudi-French Business Council Mohammed bin Laden highlighted in his speech the economic importance of the Kingdom's mining sector as one of the most important pillars of the Saudi industry, and the objectives of Vision 2030 to maximize its impact on the gross domestic product and its contribution in the local content and trade balance, achieving its sustainability and improving legislative and investment environment.

The meeting also discussed the investment opportunities available to French companies in the Kingdom's mining sector, and the efforts made during the past years to strengthen the sector, introduce its components and capabilities, attract foreign investors, and improve its business environment, through the relevant competent authorities, led by the Ministry of Industry and Mineral Resources and the Ministry of Investment.

The French side expressed the interest of French investors to invest in the Saudi mining sector, reiterating that this participation would achieve an added value for the sector through the transfer and localization of the leading French expertise.

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Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
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Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)

Saudi Arabia has made history by uniting the 193 member states of the World Intellectual Property Organization (WIPO) to adopt the Riyadh Treaty on Design Law. This landmark achievement, realized after two decades of deliberation, underscores the Kingdom’s leadership in enhancing the global intellectual property system.

The announcement came at the conclusion of the Riyadh Diplomatic Conference on the Design Law Treaty, a rare event for WIPO, which has not held a diplomatic conference outside Geneva for more than a decade. It was also the first such event hosted in Saudi Arabia and the Middle East, representing the final stage of negotiations to establish an agreement aimed at simplifying and standardizing design protection procedures across member states.

Over the past two weeks, intensive discussions and negotiations among member states culminated in the adoption of the Riyadh Treaty, which commits signatory nations to a unified set of requirements for registering designs, ensuring consistent and streamlined procedures worldwide. The agreement is expected to have a significant positive impact on designers, enabling them to protect their creations more effectively and uniformly across international markets.

At a press conference held on Friday to mark the event’s conclusion, CEO of the Saudi Authority for Intellectual Property Abdulaziz Al-Suwailem highlighted the economic potential of the new protocol.

Responding to a question from Asharq Al-Awsat, Al-Suwailem noted the substantial contributions of young Saudi men and women in creative design. He explained that the agreement will enable their designs to be formally protected, allowing them to enter markets as valuable, tradable assets.

He also emphasized the symbolic importance of naming the convention the Riyadh Treaty, stating that it reflects Saudi Arabia’s growing influence as a bridge between cultures and a global center for innovative initiatives.

The treaty lays critical legal foundations to support designers and drive innovation worldwide, aligning with Saudi Arabia’s vision of promoting international collaboration in the creative industries and underscoring its leadership in building a sustainable future for innovators.

The agreement also advances global efforts to enhance creativity, protect intellectual property, and stimulate innovation on a broader scale.

This achievement further strengthens Saudi Arabia’s position as a global hub for groundbreaking initiatives, demonstrating its commitment to nurturing creativity, safeguarding designers’ rights, and driving the development of creative industries on an international scale.

The Riyadh Diplomatic Conference, held from November 11 to 22, was hosted by the Saudi Authority for Intellectual Property and attracted high-ranking officials and decision-makers from WIPO member states.