Minister of Investment, Eng. Khalid Al-Falih and Governor of the General Authority for Military Industries (GAMI), Eng. Ahmad Al-Ohali presided over the signing ceremonies of 11 significant cooperation agreements and multiple joint memoranda of understanding with international companies specializing in military and defense industries. This occasion took place during the World Defense Show, hosted in Riyadh from Feb. 4 to 8, 2024. These agreements underscore the commitment to bolster the Kingdom"s capabilities in critical sectors. They encompass a wide range of initiatives, including technology transfer and localization, the establishment of local production lines, and the training and development of national talent within these specialized fields. Furthermore, these accords and MoUs align seamlessly with the strategic objectives of Saudi Arabia"s military industries. They encompass goals such as the localization of defense manufacturing, the enhancement of military readiness, increased industrial participation, and the creation of investment opportunities, all in line with the Vision 2030 objective of localizing 50% of military equipment and services spending by the year 2030. Additionally, these agreements are in harmony with the National Investment Strategy"s aim of augmenting the sector"s contribution to the GDP, thereby boosting economic growth and diversification. Governor Al-Ohali emphasized that these signings reflect a steadfast commitment to the development and localization of the military industries sector, while simultaneously enhancing competitiveness and bolstering global confidence in its products. He further highlighted GAMI"s collaborative efforts with government agencies and manufacturers, particularly through the Industrial Participation Program. This program aims to stimulate the participation of small- and medium-sized companies, promote exports, facilitate technology transfer, build capabilities, conduct research, nurture talent, and establish invaluable global partnerships.