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Eased Procedures Encourage Private Sector Investment in Saudi Military Industries

Saudi Arabia's vision aims to localize at least 50% of the country's spending on military procurement by 2030 (Asharq Al-Awsat)
Saudi Arabia's vision aims to localize at least 50% of the country's spending on military procurement by 2030 (Asharq Al-Awsat)
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Eased Procedures Encourage Private Sector Investment in Saudi Military Industries

Saudi Arabia's vision aims to localize at least 50% of the country's spending on military procurement by 2030 (Asharq Al-Awsat)
Saudi Arabia's vision aims to localize at least 50% of the country's spending on military procurement by 2030 (Asharq Al-Awsat)

The Saudi government offers a host of comparative advantages for military sector investors. From easy procedures to visas and licenses, Saudi authorities are keen on facilitating investment flow into the Kingdom’s defense industry.

Saudi Arabia’s developed customs services and digital technologies are factors for attracting investment as well.

A recent Riyadh Chamber of Commerce report recommended establishing industry-specific specializations in schools and universities across the Kingdom.

It also stressed the need for building partnerships with developed countries.

Raising more awareness of Vision 2030 programs for the Saudi military industry, creating military industry clusters, and establishing research centers specialized in developing technologies were also among the Chamber’s suggestions.

Encouraging and attracting researchers and scientists to upgrade technology was also proposed in the report.

Saudi Arabia has implemented a long-term strategy for some essential military industries. Moreover, it facilitates license issuing via e-platforms.

Saudi companies and institutions have developed solutions to overcome difficulties facing their investment journey in the Kingdom’s military sector.

Integration and transfer of expertise between the private and military sectors are among those solutions.

The companies also proposed that the state provide more financial support and facilities and select the most efficient companies to invest in the military sector.

According to the presented solutions, the Kingdom must invest in scientific research, assign a single legislative body, facilitate the issuance of necessary licenses, and streamline procedures.

Establishing industrial cities for the defense sector was also recommended. Local and international knowledge and technology must be used to support those cities.

Training national cadres in military investment is also vital.

Abdullah Al-Khorayef, Chairman of the Industrial Committee at the Chamber, confirmed that the Kingdom’s military industries provide an array of promising opportunities for the private sector.

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China Seeks to Bolster Ports and Aviation Hubs in Western Regions

The city skyline is reflected in a pool left on the dry riverbed of the receding Jialing river, a tributary of the Yangtze, that is approaching record-low water levels during a regional drought in Chongqing, China, August 20, 2022. (Reuters)
The city skyline is reflected in a pool left on the dry riverbed of the receding Jialing river, a tributary of the Yangtze, that is approaching record-low water levels during a regional drought in Chongqing, China, August 20, 2022. (Reuters)
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China Seeks to Bolster Ports and Aviation Hubs in Western Regions

The city skyline is reflected in a pool left on the dry riverbed of the receding Jialing river, a tributary of the Yangtze, that is approaching record-low water levels during a regional drought in Chongqing, China, August 20, 2022. (Reuters)
The city skyline is reflected in a pool left on the dry riverbed of the receding Jialing river, a tributary of the Yangtze, that is approaching record-low water levels during a regional drought in Chongqing, China, August 20, 2022. (Reuters)

China said on Sunday it would launch 15 measures to bolster the development of its western provinces with the construction of logistical infrastructure such as ports and aviation hubs.

The General Administration of Customs said the measures would enhance the integration of rail, air, river and sea links in China's west, state media reported.

The measures are to include enhancing international aviation hubs in cities including Chengdu, Chongqing, Kunming, Xi'an and Urumqi, while developing comprehensive bonded zones, and integrating these with ports and other transport links.

A number of ports would also be built and expanded.

China has long sought to bolster the economic heft of its western regions, which have markedly lagged coastal provinces.

China's western regions comprise around two-thirds of the country's land area and include regions such as Sichuan, Chongqing, Yunnan, Xinjiang and Tibet.

China's Politburo last year called for a "new urbanization" of western China to revitalize rural areas, expand poverty alleviation efforts and strengthen energy resources. Efforts have also been made to increase linkages to Europe and South Asia through trade corridors including rail freight routes.