Senior officials from Saudi Arabia and the UK expanded talks on how the two countries can increase collaboration on a number of innovative fields, including space and technology, on the sidelines of the World Defense Show in Riyadh.
Eng. Abdullah bin Amer Al-Swaha, Minister of Communications and Information Technology and British Secretary of Investment Lord Gerald Edgar Grimstone discussed expanding bilateral cooperation in digital economy between Saudi Arabia and the UK. The pair also reviewed how the strategic partnership between the two countries could be strengthened in technology, space and innovation, and developing joint digital projects, including One Web-Neom Tech, state news agency Saudi Press Agency reported Sunday.
The UK was further briefed on the available investment opportunities in these sectors in the kingdom.
Last July, Saudi Arabia and the UK announced a plan to increase cooperation between the two countries in the field of space economy, according to a statement carried by SPA at the time.
Both sides stressed the importance of using the sector to help stimulate their respective country’s private sectors and promote investment in developing human capabilities.
In October 2020, Saudi Arabia stated that it planned to spend SAR8bn ($2.1bn) to boost its space programme as part of its Vision 2030 agenda. Vision 2030 is an ambitious economic diversification plan spearheaded by Crown Prince Mohammed bin Salman (below) that seeks to transform the country’s economy and prepare it for a post-hydrocarbon age.
The Crown Prince attended the World Defense Show to inaugurate the vent on Sunday. The event, which was organised by the General Authority for Military Industries (GAMI) and lasts until March 9, has witnessed the participation of more than 590 companies from 42 countries around the world.
“The 6th of March will mark an important milestone in the Kingdom’s journey towards localising 50 percent of its military expenditure by 2030. We have seen overwhelming global interest for participating at World Defense Show’s first edition and we look forward to providing a conducive environment for networking and cross-border partnerships to drive innovation in the industry,” Ahmad Al-Ohali, Governor of GAMI said in a statement ahead of the event’s start.
“There has never been a better time to partner with Saudi Arabia’s defence and security ecosystem as we continue to transform a nascent industry with immense potential. Our doors are open to international manufacturers and service providers who share our vision for technology transfer, talent development and defence industrialisation,” Al-Ohali added.
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