Riyadh – Mubasher: Saudi Arabian Military Industries (SAMI) has signed a high-level defence collaboration agreement with global aerospace and technology company Paramount Group.
Under the agreement, SAMI and Paramount will develop technologies and capabilities across the land, sea and air domains, according to the Saudi Press Agency (SPA).
“The collaboration between SAMI and Paramount Group will…contribute significantly to further enhancing the capability of Saudi Armed Forces and increasing local content, in addition to creating new job opportunities and training for Saudi youths,” CEO of SAMI Andreas Schwer said.
The agreement came in line with Saudi Arabia's vision 2030 and the GCC country’s ambitious economic development plan.
Chairman of Paramount Group, Ivor Ichikowitz, commented: “Saudi Arabia is important to Paramount Group as much of the technology that we have created over the years has been developed with the Middle East in mind. We share the vision of HRH the Crown Prince and his economic development plan.”
