Saudi Arabia’s AFED offers SAR 65 bln investment opportunities to private sector

26/02/2018 Argaam

 

Saudi Arabia’s Armed Forces Exhibition for Diversity of Requirements and Capabilities (AFED) is providing 80,000 investment opportunities worth over SAR 65 billion for the private sector in the next five years, Attiya AlMaliki, director general of the manufacturing localization unit at the Saudi defense ministry, told Al-Arabiya TV on Sunday.

 

Several memorandums of understanding were signed between local and foreign firms for mutual cooperation.

 

AFED showcased various manufacturing opportunities with many international firms eying opportunities in the Kingdom. It also helped national factories and companies to introduce their manufacturing capabilities to other participants, Al Maliki said.

 

The seven-day event, which was organized by the defense ministry, kicked off in Riyadh on Sunday.

It aims to support the local content and nationalize complementary goods, under the Saudi Vision 2030, he added.

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