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RIYADH: The Ministry of Investment and the General Authority for Military Industries have signed a memorandum of understanding with Italian defense firm Elettronica, the Saudi Press Agency reported on Saturday.
The MoU 鈥渋ncreased tie ups related to investment in the Saudi defense sector and positioning the country as a key player in the global value chain,鈥� according to the SPA.
Minister of Investment Khalid A. Al-Falih 鈥廰nd Mohammad Alathel, the GAMI鈥檚 deputy governor for localization, attended the signing ceremony during the Ambrosetti Forum in Como, Italy.
The Ministry of Investment participated in several dialogue sessions during the Ambrosetti Forum, discussing investment opportunities in the Kingdom, introducing the ministry鈥檚 services in support of investors and investments, and highlighting the incentives offered to local and international investors.