Security, Aerospace & Defence
From The Report: Saudi Arabia 2022
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Saudi Arabia’s defence expenditure was the sixth highest worldwide in 2021, behind the US, China, India, Russia and the UK. The localisation of industry, and enhanced research and development are core to Vision 2030, the government’s long-term blueprint for development. Given the defence sector’s traditional prominence in the annual budget, it is among the areas targeted to propel the upskilling of the national workforce and create more jobs. Defence-related business forms a key component of Saudi Arabia’s close economic relationship with the US. While more deals have been signed recently between the two nations, the Kingdom’s drive to expand the industry has led it to broaden its portfolio of strategic partnerships and attract international security, aerospace and defence manufacturing entities to establish operations on Saudi soil.

Articles from this Chapter

Overview

Growth targets: Public spending and international interest put the Kingdom on a firm footing to reach defence localisation goals
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Saudi Arabia’s defence expenditure was the sixth highest worldwide in 2021, behind the US, China, India, Russia and the UK. The localisation of industry, and enhanced research and development (R&D) are core to Vision 2030, the government’s long-term blueprint for development. Given the defence sector’s traditional prominence in the annual budget, it is among the areas targeted to propel the upskilling of the national workforce and create more jobs. Defence-related business forms a key component…

Analysis

Heightened concern: Governments work to counter a global rise in cyberthreats stemming from digitalisation and the shift to remote work
OBG
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Russia’s invasion of Ukraine in February 2022 caused disruptions across the global economy, from food to energy, and prompted an increase in the number and sophistication of cyberattacks – exacerbating similar impacts from the Covid-19 pandemic. According to a poll of 800 chief audit executives conducted by the UK-based Chartered Institute of Internal Auditors, 77% of respondents thought the war had elevated cybersecurity and data-security risks. Senior cybersecurity analysts have said that the…