Saudi Arabia launches national defense company

May 18, 2017

Riyadh, May 18: The Saudi Arabian Public Investment Fund (PIF) announced Wednesday the creation of a new national military industries company.

SaudiSaudi Arabian Military Industries (SAMI) will manufacture products and provide services across four business units: Air Systems, which includes maintenance and repair of fixed-wing aircraft as well as manufacturing and repair of unmanned air vehicles; Land Systems, which includes manufacturing and repair of military vehicles; Weapons and Missiles, including ammunition; and Defense Electronics, which includes radars and sensors as well as communication systems and electronic warfare.

Wholly government-owned, SAMI aims to become one of the world’s top 25 defense companies by 2030. It will directly contribute around SR14 billion to the Kingdom’s GDP in 2030, invest over SR6 billion in research and development by 2030, and create over 40,000 jobs, many of which will be in the engineering and technical fields.

By partnering with universities, SAMI will provide students with apprenticeships and careers in cutting edge technologies, which were previously unavailable in the Kingdom.

In line with Vision 2030, SAMI will contribute to diversifying the Saudi economy for the 21st century by reducing dependence on oil, while protecting and strengthening national security.

“While the Kingdom is one of the world’s top five spenders on security and defense overall, only around 2 percent of our military procurement is domestic,” said Deputy Crown Prince Mohammed bin Salman, who also serves as minister of defense.

The deputy crown prince emphasized that SAMI will be a major contributor in achieving the goals set out in Vision 2030, which states that 50 percent of Saudi Arabia’s military procurement spending will be localized.

SAMI’s four business units complement the Kingdom’s future military requirements and build on existing local capabilities. SAMI will establish companies through joint ventures with global original equipment manufacturers (OEMs), as well as cooperating with local military companies. It will consider creating new business units, to ensure the company is aligned with the latest developments in the military industries sector.

The Saudi Arabian Public Investment Fund has a diverse portfolio made up of approximately 200 investments, of which around 20 are listed on the Tadawul, the Saudi Stock Exchange. As well as its listed holdings, PIF also has unlisted equity investments, international investments, real estate holdings, and loans, bonds and sukuks.

Since oversight of the PIF was transferred from the Ministry of Finance to the Council of Economic and Development Affairs (CEDA), the Fund has been undertaking a phased transformation program to implement a redefined strategy and mandate.

This includes expanding the management, investment and middle and back office teams, enhancing the governance structures, engaging with the diverse portfolio and implementing the investment strategy, which is closely aligned with Vision 2030. A new board has been appointed, chaired by Prince Mohammed bin Salman.

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News Network
April 11,2020

Dubai, Apr 11: The UAE has conducted over 49,000 Covid-19 tests among UAE citizens and residents, it was revealed on Friday, using state-of-the-art technology in line with the 's plans to intensify virus screening in order to bring the disease under control.

The accelerated investigative measures helped detect 370 new coronavirus cases among various nationalities, all of whom are in a stable condition and receiving the necessary care.

This took the total number of infections in the country to 3,360, according to a MoHaP statement.

The Ministry also revealed the death of two patients suffering from Covid-19. Both of the deceased were Asian nationals and had pre-existing chronic illnesses. The total number of deaths has now reached 16.

The Ministry expressed its sincere condolences to the families of the deceased and wished a speedy recovery to all patients, calling on the public to cooperate with health authorities and comply with all precautionary measures, particularly social distancing protocols, to ensure the safety and protection of the public.

The Ministry also announced the full recovery of 150 new cases after receiving the necessary treatment, taking to 418 the total of those now recovered from the virus in the UAE.

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News Network
April 24,2020

Dubai, Apr 24: The UAE reported 525 new COVID-19 cases on Friday. The Ministry of Health and Prevention said the total number of confirmed cases in the UAE is now 9,281.

MOHAP reported 8 deaths taking the total number of deaths in the country to 64. 123 recoveries have also been announced.

According to the Ministry of Health and Prevention, the latest cases were detected through its intensified investigation and examination procedures.

The ministry conducted over 32,000 additional COVID-19 tests among citizens and residents.

The ministry offered its sincere condolences to the families of the deceased. It also wished a speedy recovery to all patients and called upon the general public to strictly adhere to preventative measures out of concern for the health and safety of all.

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Agencies
March 23,2020

Riyadh, Mar 23: King Salman on Sunday issued an order imposing a curfew across Saudi Arabia from Monday evening to control the spread of the COVID-19 disease.

A royal court statement carried by the Saudi Press Agency (SPA) said the curfew will start at 7 p.m. until 6 a.m. every day for 21 days from the evening of 28 Rajab 1441 in the Hijri calendar, equivalent to March 23, 2020 in the Gregorian calendar.

King Salman's order followed an announcement by the Health Ministry of 119 new coronavirus cases on Sunday, raising the total number in the Kingdom to 511.

The order enjoins citizens and residents alike to stay in their homes during the curfew hours for their own safety.

The statement said the Ministry of Interior will undertake the necessary measures to implement the curfew, and all civil and military authorities are ordered to cooperate fully.

Exclusions

A subsequent statement issued by the Ministry of Interior and carried by SPA said those excluded from the curfew are workers from the following vital industries and government services:

• Food sector (points of sale) such as catering and supermarkets And poultry and vegetable shops, meat, bakeries, food factories and laboratories;

• Health sector, such as pharmacies and the like, medical clinics (dispensaries), hospitals, laboratories, factories, factories and materials and medical devices;

• Media sector in its various means;

• Transportation sector, such as those transporting goods, parcels, customs clearance, warehouses, warehouses, logistics services, supply chains for the health sector, the food sector, and port operations;

• E-commerce activities such as those working in the electronic procurement applications for the excluded activities and those working in the delivery applications of the excluded activities;

• Accommodation services activities such as hotels and furnished apartments;

• Energy sector such as gas stations and emergency services for the electric company;

• Financial services and insurance sector, such as direct accidents (Najm), urgent health insurance services (approvals), and other insurance services;

• Telecom sector as Internet and communication network operators;

• Water sector, such as the water company emergency services and home drinking water delivery service (graying).

Additional exclusions

The Interior Ministry statement also said movement during the curfew time will be allowed for security, military and health cars, government regulatory services vehicles, and activity vehicles excluded in the vital industries and services mentioned above. 

Delivery services through smart device applications (express delivery services) during the curfew will be allowed for food and drug needs and other essential goods and services that are excluded and delivered to homes. Excluded activities can be known by calling the toll-free number in all regions of the Kingdom 999, except for the Makkah Al-Mukarramah region, which is called at 911.

Muezzins will be allowed to access mosques to lift the call to prayer at the time of the curfew.

Workers in diplomatic missions and international organizations and the like residing in the Diplomatic Quarter will be allowed to move during the curfew period to and from their business headquarters in the neighborhood.

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