Overview

International collaboration boosts Saudi Arabia's defence capabilities
OBG
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Amid Russia’s ongoing conflict with Ukraine and tensions in the Middle East, Taiwan Strait and elsewhere, global military expenditure increased 6.8% to reach $2.4trn in 2023 – the highest level ever recorded by the Stockholm International Peace Research Institute (SIPRI). Saudi Arabia allocated approximately $75.8bn to its military that year, marking a 4.3% increase from 2022. This expenditure…

Overview

Localisation and renewable energy power Saudi Arabia’s industries
OBG
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Saudi Arabia’s industrial and mining sectors are linchpins of the country’s diversification and privatisation initiatives. Local content requirements, upgrades in logistics infrastructure and ambitious government growth targets have engendered significant transformation in Saudi Arabia’s industrial and mining sectors, making them increasingly dynamic and diversified contributors to the economy.…

Overview

Saudi Arabia working to diversify energy sources
OBG
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Saudi Arabia’s energy strategy focuses on maximising economic returns from its existing hydrocarbons reserves, while simultaneously increasing domestic renewable energy capacity. This involves investing in research, development and innovation to create clean energy solutions and minimise the environmental impact of fossil fuels. The Kingdom’s approach is influenced by projections of a future decline…