Riyadh, March 28, 2024, The Federation of Saudi Chambers has unveiled the establishment of a pioneering national committee dedicated to military industries, marking a significant milestone in the country's economic landscape. Salman bin Nasser Al-Shatri has been elected as its chairman, with Zeyad bin Abdulaziz Al-Mohaimeed assuming the role of vice chairman.
This historic initiative marks the first instance of a committee focused on the military industries sector operating within the private sector's purview under the auspices of the Federation of Saudi Chambers. The committee is poised to collaborate closely with pertinent authorities and entities, including the General Authority for Military Industries and the Saudi Arabian Military Industries (SAMI), among others.
Aligned with the federation's newly announced strategic directions, this move reflects a concerted effort to align with the modern economic sectors emphasized in the Saudi Vision 2030. Central to this vision is the development and localization of the military industries sector, with the overarching goal of achieving over 50% nationalization by the year 2030.
