Under the leadership of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, and with the close and direct oversight of Crown Prince Mohammed bin Salman bin Abdulaziz, the Kingdom of Saudi Arabia continues its rapid progress towards achieving comprehensive development and sustainable economic prosperity. This progress gains momentum daily, as the Kingdom has transformed into a vast and tireless workshop, where the pace of construction and completion of mega-projects across all vital sectors is accelerating. This solidifies the Kingdom's position as an influential global economic power and a reliable partner for its sister and friendly nations.
Riyadh: The capital of global decisions and events
Riyadh has become a major destination for decision-makers worldwide, with hardly a day passing without it hosting a global exhibition, international symposium, or strategic conference that draws political and military leaders and CEOs of major international companies from across the globe. This relentless activity is not a coincidence, but rather the result of well-considered plans to bolster the tourism, sports, and conference sectors, making them essential pillars of the nation's ongoing development and underscoring Riyadh's pivotal role in shaping the region's economic and political future.
A cultural and artistic renaissance that keeps pace with economic development
Alongside its economic and political developments, the Kingdom is witnessing a remarkable cultural movement that reflects the depth of Saudi identity and its openness to the world. This was clearly demonstrated just days after the international art auction where a painting by the pioneering Saudi artist, Safia Binzagr, sold for record-breaking sums, exceeding the prices of works by prominent international artists such as Picasso and other masters of the visual arts. This event not only reflects the monetary value of Saudi artworks but also confirms the maturity of the local art market and the world's appreciation for Saudi cultural achievements, thus strengthening the Kingdom's soft power.
World Defence Exhibition: Localization Strategy and Technological Independence
In the context of strengthening its hard and strategic capabilities, Riyadh is opening its doors to participants in the World Defense Show, amidst unprecedented international interest and keen interest from major global arms manufacturers to secure a share of the Saudi and regional markets. This exhibition is supported by state-of-the-art logistical and technological infrastructure designed to host and showcase the latest aircraft and land and air defense systems.
This event is of exceptional importance as it reflects the Kingdom's firm determination to achieve the strategic goal set by Crown Prince Mohammed bin Salman bin Abdulaziz, which is to localize more than 50% of the Kingdom's military spending by 2030. This ambitious vision not only aims to reduce imports, but also seeks to establish a strong national military industrial base that contributes to the transfer of technology and knowledge, and enhances the Kingdom's strategic independence.
Future prospects: A diversified economy and promising opportunities
The strategy of localizing military industries is a cornerstone for providing hundreds of thousands of high-quality job opportunities for Saudi citizens in the fields of engineering, technology, and advanced manufacturing. This path will ultimately make Saudi Arabia a producer and exporter of a number of military industries necessary for modernizing defense systems, not only domestically but also for countries in the region and the world.
These ambitious plans and ideas all stem from Saudi Vision 2030, through which the Crown Prince has propelled the national economy to new heights, impressing the international community and becoming a model for the region. Saudi Arabia is undoubtedly moving steadily towards realizing its grand ambition, ushering in a new era of modernization and leadership in technology, construction, sports, and a diversified economy.
