World Defense Show Sees Surge in Agreements, Strategic Partnerships

Minister of Industry and Mineral Resources Bandar Alkhorayef witnesses the signing of a memorandum of cooperation between the National Industrial Development Center and Airbus (Asharq Al-Awsat). 
Minister of Industry and Mineral Resources Bandar Alkhorayef witnesses the signing of a memorandum of cooperation between the National Industrial Development Center and Airbus (Asharq Al-Awsat). 
TT

World Defense Show Sees Surge in Agreements, Strategic Partnerships

Minister of Industry and Mineral Resources Bandar Alkhorayef witnesses the signing of a memorandum of cooperation between the National Industrial Development Center and Airbus (Asharq Al-Awsat). 
Minister of Industry and Mineral Resources Bandar Alkhorayef witnesses the signing of a memorandum of cooperation between the National Industrial Development Center and Airbus (Asharq Al-Awsat). 

The second day of the third edition of the World Defense Show 2026 in Riyadh witnessed intensified momentum in the signing of defense agreements and strategic partnerships with international entities.

It reflects Saudi Arabia’s drive to localize technology, build national capabilities in the military and defense sectors, and deepen local supply chains in line with Vision 2030.

On the sidelines of the exhibition, the Saudi Ministry of Defense signed 28 contracts with local and international companies specializing in military industries.

Four contracts were signed by Dr. Khaled Al-Biyari, Assistant Minister of Defense for Executive Affairs, with chief executives of France’s MBDA, Raytheon Saudi Arabia, South Korea’s Hanwha Aerospace, and Italy’s Leonardo.

Al-Biyari also attended the signing of eight additional contracts concluded by Ibrahim Al-Suwayed, Undersecretary of Defense for Procurement and Armament, with local and global companies from France, Türkiye, South Korea, and Italy.

A further 16 contracts were signed by executive directors at the Ministry’s Procurement and Armament Agency with representatives of defense firms.

The agreements aim to enhance the readiness and combat efficiency of the armed forces, ensure the sustainability of military systems, and support the localization of defense manufacturing. These efforts align with Vision 2030 targets to localize more than 50 percent of spending on military equipment and services.

In a parallel development, Al-Biyari and German State Secretary at the Federal Ministry of Defense Jens Plötner signed draft arrangements for defense cooperation between the two countries.

The exhibition also highlighted efforts to localize the aviation industry. The Minister of Industry and Mineral Resources oversaw the signing of a memorandum of cooperation between the National Industrial Development Center and European aerospace company Airbus.

The memorandum includes plans to establish engineering centers for manufacturing, assembly, and maintenance, transfer technology and expertise, and develop a logistics ecosystem to support the aviation industry.

It also covers attracting global suppliers to invest locally, exploring procurement and export options, and identifying incentives and financing mechanisms to support joint projects. Training programs and educational partnerships are also planned to qualify Saudi talent to lead the aviation sector and related industries.

Innovation and integration were the central themes of the exhibition’s second day. Eng. Ahmad Al-Ohali, Governor of the General Authority for Military Industries, reaffirmed Saudi Arabia’s commitment to developing integrated and globally competitive defense industries.

He noted that the exhibition reflects national goals to advance localization, strengthen supply chains, and enhance operational readiness across defense and security sectors.

Chief of the General Staff General Fayyadh Al-Ruwaili outlined strategic directions for developing the national defense system in light of evolving global operational conditions. Senior local and international officials participated in discussions on building a resilient defense framework capable of addressing future challenges.

The program also featured “Thought Leadership” sessions focusing on the evolution of defense industries, investment opportunities in aviation and space, and supply chain development.

Activities continued at the Defense Industry Lab and the Saudi Supply Chain Zone, designed to strengthen collaboration among manufacturers and accelerate technology transfer.

Exhibition Chief Executive Officer Andrew Pearcey said the strong international participation reflects Saudi Arabia’s growing role in shaping the future of defense technologies. The World Defense Show brings together 1,468 exhibitors from 89 countries, with live demonstrations and strategic programs covering air, land, sea, space, and security domains.

Further strengthening industrial capabilities, GE Aerospace signed an industrial participation agreement with the General Authority for Military Industries to enhance repair and maintenance capabilities for F110 engines.

A separate memorandum of understanding was also signed to explore building a globally competitive aviation industrial base and accelerating the Kingdom’s manufacturing roadmap. The authority said the agreement would support knowledge transfer, international certification, and the localization of engine component manufacturing.

Major global defense and aerospace companies also reaffirmed their commitment to supporting Saudi Arabia’s localization agenda. Boeing highlighted its support for enhancing readiness and domestic capabilities, while RTX, through Raytheon Saudi Arabia, showcased advanced defense systems and emphasized workforce development and integrated solutions aligned with the exhibition’s theme, “The Future of Defense Integration.”

The World Defense Show continues to consolidate its role as a global platform connecting manufacturers, investors, entrepreneurs, and decision-makers.

Supported by regulatory development, incentive programs, and human capital initiatives, Saudi Arabia has made tangible progress in localization. By 2024, localized military spending had reached nearly 25 percent, local content stood at 40.7 percent, and Saudization reached 63 percent, reinforcing the Kingdom’s ambition to become a regional hub for defense and aviation industries by 2030.

 

 

 

 



COP31 in Antalya: From Pledges to Investment

Murat Kurum, Turkish Minister of Environment, Urbanization and Climate Change and President of COP 31, during the press conference in Istanbul. (Asharq Al-Awsat)
Murat Kurum, Turkish Minister of Environment, Urbanization and Climate Change and President of COP 31, during the press conference in Istanbul. (Asharq Al-Awsat)
TT

COP31 in Antalya: From Pledges to Investment

Murat Kurum, Turkish Minister of Environment, Urbanization and Climate Change and President of COP 31, during the press conference in Istanbul. (Asharq Al-Awsat)
Murat Kurum, Turkish Minister of Environment, Urbanization and Climate Change and President of COP 31, during the press conference in Istanbul. (Asharq Al-Awsat)

Türkiye plans to make implementation of climate commitments and financing a central focus of its presidency of the UN COP31 climate conference, seeking to move negotiations from agreements and pledges toward concrete projects and investments as energy security, debt, extreme weather and the development needs of emerging economies increasingly intersect.

Türkiye’s presidency will pursue three main pillars, “dialogue, consensus and action”, Environment, Urbanization and Climate Change Minister and COP31 President Murat Kurum explained.

He stressed that success in Antalya would be measured not only by the decisions reached, but by the ability to turn them into viable projects, attract financing and deliver results people can see in their daily lives.

At a news conference Friday, Kurum noted that climate change could no longer be treated as a separate environmental issue, but had become closely linked to energy, industry, cities, trade, water and development, amid the growing impact of heat waves, extreme weather and threats to food and water security.

Communities, he added, want to see the impact of climate decisions on the ground, and the world must move from “words to implementation.” While the Paris Agreement established an important path for climate action, the challenge in its second decade is the speed with which decisions and commitments are carried out.

Dialogue, consensus and action

Kurum argued that lasting results require listening to different parties, finding common ground and translating consensus into practical steps.

Türkiye wants COP31 to become a turning point by “turning words into projects, projects into investments, and investments into results that affect people’s lives,” he added.

Ankara has begun broad consultations with the UN system, governments, financial institutions, cities and the private sector to identify obstacles to implementation. Those consultations helped shape an “Action Agenda” focused on areas including clean energy, electricity, cities, industry, youth and food.

Financing at the forefront

Kurum placed climate finance at the top of Türkiye’s priorities, emphasizing that the challenge is no longer limited to announcing how much money will be made available, but ensuring that it reaches the countries and projects that need it at the right time.

He pointed to delays in meeting the previous pledge to provide developing countries with $100 billion annually, noting that the experience showed that confidence in the financing system depends on pledged funds actually reaching projects.

COP29 in Baku concluded with an agreement to raise the financing target for developing countries to at least $300 billion a year by 2035, while working to increase climate finance flows from public and private sources to $1.3 trillion annually.

Kurum described a global paradox in which capital is seeking investment opportunities while climate investment needs are enormous, yet the two “do not always meet.”

Many developing countries, he explained, have potential and projects but need technical and technological support, as well as help preparing projects so they can attract financing.

Türkiye’s presidency is therefore working on mechanisms to turn climate needs into investable projects, particularly in cities, water and infrastructure, and connect them with financial institutions and investors.

Private sector and the most vulnerable countries

Kurum underscored Türkiye’s aim of securing strong private-sector participation in Antalya, particularly from companies with climate technologies and solutions.

At the same time, he stressed that the needs of least-developed countries and small island developing states must remain at the heart of discussions, especially in terms of access to financing.

Türkiye will also bring its domestic experience to COP31, including its 2053 net-zero target and policies on the circular economy, waste management, energy efficiency and renewable energy.

Kurum also cited Türkiye’s reconstruction of earthquake-hit areas, noting that the country had completed and delivered around 455,000 housing units over two years, with an emphasis on disaster resilience and energy efficiency.

Kurum outlined plans to link the Action Agenda to measurable goals through 2035, including raising electricity’s share of global energy consumption to 35%, reducing waste-related resource consumption by 25% and increasing the use of secondary and recycled materials in industry to 15%.

Türkiye wants COP31 to mark the beginning of a phase in which climate action shifts more decisively from negotiation to implementation, with success measured by the ability to turn “words into projects, projects into investments, and investments into results.”


Fitch Keeps Qatar at 'AA'

The skyline of illuminated high-rise buildings is seen along the Corniche Promenade in Doha on September 4, 2026. (AFP)
The skyline of illuminated high-rise buildings is seen along the Corniche Promenade in Doha on September 4, 2026. (AFP)
TT

Fitch Keeps Qatar at 'AA'

The skyline of illuminated high-rise buildings is seen along the Corniche Promenade in Doha on September 4, 2026. (AFP)
The skyline of illuminated high-rise buildings is seen along the Corniche Promenade in Doha on September 4, 2026. (AFP)

Global ratings ‌agency Fitch removed Qatar from "Rating Watch Negative" and maintained its sovereign rating at "AA" on Friday, citing reduced risks to its LNG facilities since March.

However, the agency kept Qatar's outlook at "negative", citing lingering risks from the disruption of LNG exports through the Strait of Hormuz.

"The impact of the war on the credit profile will take longer to discern," the ⁠agency said in a statement.

One of ‌the world's largest liquefied natural gas exporters, Qatar ‌has been dealing with disruptions ‌to exports through the Strait of Hormuz and shortages linked to damage at energy facilities.

The affirmation comes months after Fitch ‌warned of a downgrade of the Qatar sovereign as concerns about ⁠the ⁠security and economic fallout from the Iran war intensified.

Peers S&P and Moody's had also affirmed Qatar earlier this year, saying the country's "sizable" fiscal profile cushions the impact of the US-Israeli war on Iran.


Jeddah to Host Saudi Industry Forum 2026 from September 14 to 16

A view of Jeddah, Saudi Arabia. (SPA)
A view of Jeddah, Saudi Arabia. (SPA)
TT

Jeddah to Host Saudi Industry Forum 2026 from September 14 to 16

A view of Jeddah, Saudi Arabia. (SPA)
A view of Jeddah, Saudi Arabia. (SPA)

Under the patronage of Advisor to the Custodian of the Two Holy Mosques and Governor of Makkah Region Prince Khalid bin Faisal bin Abdulaziz, Jeddah will host the second edition of the Saudi Industry Forum 2026 from September 14 to 16 at Jeddah Superdome, reported the Saudi Press Agency on Friday.

The forum is organized by the Federation of Saudi Chambers of Commerce, represented by the National Committee of Industry, in cooperation with the Jeddah Chamber.

The forum is held in strategic partnership with the Ministry of Industry and Mineral Resources and its ecosystem, with the participation of several government entities, national companies, universities, academic institutions, and research centers, as well as prominent leaders, officials, experts, and specialists from within and outside the Kingdom.

The forum will feature panel discussions and specialized workshops addressing key developments and opportunities in the industrial sector, the future of national industries, the enhancement of supply chains and logistics services, and the development of an integrated industrial base in strategic sectors, particularly the automotive industry, as well as the food and pharmaceutical industries.

The forum will discuss ways to enhance integration between the industrial sector, universities, and research and development centers; align academic and research outputs with the sector's needs; and utilize modern technologies to advance industry. It will also address strengthening local content, increasing the contribution of national enterprises, and highlighting promising investment opportunities.

The forum will witness the signing of several agreements and memoranda of understanding among government and private entities, as well as educational and research institutions, aimed at strengthening partnerships and integration among stakeholders in the industrial ecosystem, stimulating investment, and enhancing the competitiveness of national industry.

The forum comes amid the rapid growth and transformation of the Kingdom's industrial sector and its expanding role in diversifying the economic base, strengthening local content, and attracting investment, in support of the objectives of Saudi Vision 2030.