The signing of the MoU occurred during the Ambrosetti Forum, held in Como, Italy, where Saudi representatives, including Minister of Investment Khalid A. Al-Falih and GAMI’s Deputy Governor for Localization Mohammad Alathel, were in attendance. The agreement seeks to increase investment in Saudi Arabia’s defense sector, positioning the Kingdom as a pivotal player within the global defense supply chain.
As part of this agreement, Elettronica will collaborate with local partners to enhance the Kingdom’s defense technology ecosystem. The partnership is anticipated to promote the localization of military technologies and manufacturing in Saudi Arabia, a key objective under the Vision 2030 framework. By attracting foreign companies like Elettronica, the government aims to boost domestic capabilities while reducing the Kingdom’s reliance on defense imports.
The MoU is a strategic move to encourage the transfer of cutting-edge technology and knowledge sharing between Saudi Arabia and global defense leaders. Elettronica, a leader in electronic warfare systems, will bring its expertise to the region, contributing to Saudi Arabia’s ambitions of becoming self-sufficient in defense production while maintaining strong international partnerships.
Saudi Arabia’s Ministry of Investment has been actively engaging with international firms to build partnerships that can drive industrial growth and innovation in key sectors. This collaboration with Elettronica is part of a broader effort to diversify the Saudi economy by fostering high-tech industries and creating sustainable defense solutions. The agreement further emphasizes the Kingdom's aim to enhance its defense capabilities, attract global talent, and promote the localization of the defense industry, reinforcing its standing on the global stage.