The US-based defence corporation, Lockheed Martin, hosted a specialized suppliers workshop in Riyadh on Thursday to establish partnership opportunities with companies in Saudi’s aerospace and defense sector.
The workshops included talks on localization and how firms could work with the company to strengthen local defense supply chains.
Deputy governor for military industry at the General Authority of Military Industries, Gasem Al Maimani, has highlighted the authority’s goal to boost Saudi’s efforts to localize more than 50 percent of government spending on military equipment and services by 2030.
“We have a long track record of transferring technologies and sharing expertise with Saudi Arabia and are working diligently to create high-quality jobs for the workforce,” said Joseph Rank, chief executive for the company in the Kingdom, adding: “Saudi suppliers in the defense sector will be central to helping localize defense expenditure.”