imported 2024-03-17 17:43:08
Between 2013 and 2025, GCC countries will have spent roughly 1 trillion on defence and about 30% of this is dedicated to capital expenditures. If a 35% offset requirement is enforced this means that 105 billion could either be invested or sourced domestically creating more than 280,000 jobs.
Sami Alhumaidi, Managing Director of PSATRI taks about innovation in Saudi Arabia.
Sami Alhumaidi, Managing Director of PSATRI taks about the offset program in Saudi Arabia.
The top three largest defense spenders in the world are the US, Russia, and China. According to 2014 figures compiled by the Stockholm International Peace Research Institute, Saudi Arabia comes in as a close fourth, having spent an estimated $80.8 billion dollars up by 17% from 2013.
Marcopolis.net has compiled the ranking of the top defense companies in Saudi Arabia. View the list of the largest defense companies. The largest defense are companies are Military Industries Corporation, Advanced Electronics Company and Alsalam Aircraft.
Non-traditional security (NTS) issues are of our concern. It is multifaceted, evolves very rapidly and could emerge in an unexpected manner. Among of NTS issues are terrorism/militancy, transnational/trans-boundary crimes, cyber-security and environment security- climate change, natural disasters etc.
Advanced Electronics Company (AEC) was one of the companies created under the auspices of the Saudi Economic Offset Program, which originally started in the mid-1980s. The company focused on critical technologies and dedicated itself to defence electronics, later on spreading into other areas such as ICT and industry (power and energy).
Dr. Ghassan Al-Shibl, President and CEO of Advanced Electronics Company (AEC), a leading manufacturing company operating in military, telecom and industrial sectors, stresses the importance of knowledge economy for Saudi Arabia.
“If we look at all the fundamentals related to Saudi economy, I do think we have any other option but to be positive and optimistic about our future,” explains Dr. Ghassan Al-Shibl, President and CEO of AEC, who discusses the economy and doing business in Saudi Arabia in an exclusive interview.
Advanced Electronics Company (AEC), a leading manufacturing company operating in military, telecom and industrial sectors, discusses their strategy to develop ICT capabilities in Saudi Arabia.
