Saudi Chambers launch first national committee for military industries

Military industries are set to receive a boost with the Federation of Saudi Chambers announcing the formation of the first special national committee of its kind.

This marks the first time that a committee focused on the defense sector has been formed under the umbrella of the private sector, represented by the Saudi body.

Its purpose is to collaborate closely with relevant authorities and entities, such as the General Authority for Military Industries, the Saudi Arabian Military Industries, and others, the Saudi Press Agency reported.

This initiative aligns with the federation’s new strategic directions, aimed at aligning with the modern economic sectors highlighted in Saudi Arabia’s Vision 2030.

The vision emphasizes the organization and localization of the Kingdom’s military industries sector, with a target of achieving more than 50 percent nationalization by 2030.

The federation also announced the election of Salman Al-Shathri as president and Ziyad Al-Muhaimid as vice-president for the session 2023-2026.

The Federation of Saudi Chambers serves as the umbrella and sole legitimate representative of the Kingdom’s business community, encompassing all its diverse groups, sectors, and regions.