WDS 2024: A global hub for defense innovation and collaboration

WDS 2024: A global hub for defense innovation and collaboration
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As the national strategic partner, SAMI, an affiliate of the Public Investment Fund, will be the largest exhibitor, with a pavilion spanning over 3,000 sq. meters, as reported by the Saudi Press Agency. (SPA)
WDS 2024: A global hub for defense innovation and collaboration
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As the Kingdom aims for a robust defense sector, a top priority remains localization, with Saudi Arabia aspiring to localize 50 percent of its defense spending by 2030. (SPA)
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Updated 04 February 2024
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WDS 2024: A global hub for defense innovation and collaboration

WDS 2024: A global hub for defense innovation and collaboration
  • World Defense Show returns to Riyadh this February, with over 750 exhibitors from 77 countries

RIYADH: Building on its successful debut, the World Defense Show returns to Riyadh this February, with over 750 exhibitors from 77 countries set to emphasize future readiness in the sector.

Founded by Saudi Arabia’s General Authority for Military Industries, WDS serves as a global forum for innovation and technological discourse in the defense industry, covering five key domains: air, land, sea, space, and security.  

The second edition is scheduled for Feb. 4-8 and promises to provide a comprehensive international perspective of the defense industry, while analyzing needs at local, regional, and global levels.

It will bring together military players, the Saudi leadership, and industry decision-makers with a key focus on the sector’s future. 

As the Kingdom aims for a robust defense sector, a top priority remains localization, with Saudi Arabia aspiring to localize 50 percent of its defense spending by 2030. 




As the Kingdom aims for a
robust defense sector, a top priority remains localization, with Saudi Arabia aspiring to localize 50 percent of its defense spending by 2030. (SPA)

To align with this objective, the event will feature the “Meet the KSA Government Program,” an initiative connecting international companies with opportunities in the Kingdom’s government and private sector, as emphasized by the WDS CEO, Andrew Pearcey. 

“This program, a highlight since our inaugural show in 2022, offers a direct pathway to understanding and engaging with the Saudi defense industry’s procurement, investment, and partnership processes,” he told Arab News.   

“Collaborating closely with our founder, the General Authority for Military Industries, and our National Strategic Partner, Saudi Arabian Military Industries, World Defense Show serves as a platform for showcasing their latest innovations and technologies. We proudly feature a multitude of Saudi companies, each ready to engage with visitors at their stands,” Pearcey added. 

Space domain 

Under the theme “Equipped for the Future,” this year’s event will put the space domain in the spotlight for the first time.  

Pearcey highlighted the increasing importance of space technology in every nation’s defense strategy and its significance for international collaboration. 

He emphasized that this development has become an integral aspect of every nation’s defense strategy, fostering international discussion and collaboration. 

This year’s WDS introduces a dedicated “Defense Space Arena,” serving as a hub for nations to collaborate and share expertise with leading global space technology companies. 

“At the WDS Defense Space Arena, the world witnesses the culmination of international collaboration as leading space entities converge, exchange knowledge, and foster partnerships. This unique platform showcases cutting-edge space capabilities and technologies, offering a glimpse into the forefront of space advancements,” Pearcey said. 

Collaborating closely with our founder, the General Authority for Military Industries, and our National Strategic Partner, Saudi Arabian Military Industries, World Defense Show serves as a platform for showcasing their latest innovations and technologies. We proudly feature a multitude of Saudi companies, each ready to engage with visitors at their stands.

Andrew Pearcey, WDS CEO

The Space Theatre, running during the visitor open days from Feb. 5-8, will host over 40 global leaders and influencers discussing challenges and potential across various domains. 

The discussions will focus on various aspects of space, including governance, technological development, and interoperability.

Inclusivity, future talent, and cross-disciplinary collaboration will also be highlighted. 

Additionally, this specific domain, sponsored by the Saudi Ministry of Defense, will be accessible throughout the show, providing an interactive introduction to space defense development. 

Both physical and digital space assets from industry and institutions will be exhibited, illustrating the evolution of technology. Additionally, visitors can explore a space station simulation, where digital screens offer information on the role and significance of the domain. 

The Defense Space area will exhibit the Kingdom’s future plans, fostering opportunities for collaborative efforts among nations to harness the potential of space for enhanced national security and success in the space domain. 

SAMI pavilion  

In pursuit of strategic partnerships aligning with Vision 2030 objectives, Saudi Arabian Military Industries is set to participate in WDS 2024.  

As the national strategic partner, SAMI, an affiliate of the Public Investment Fund, will be the largest exhibitor, with a pavilion spanning over 3,000 sq. meters, as reported by the Saudi Press Agency.  




SAMI, an affiliate of the Public Investment Fund, will be the largest exhibitor, with a pavilion spanning over 3,000 square meters. (SPA)

Known for its commitment to innovation, SAMI will showcase its capabilities across diverse domains, including aerospace, land systems, and naval solutions. 

SAMI’s pavilion will showcase its latest advanced products meeting the Kingdom’s needs and envisioning its future aspirations, including a glimpse into aviation and space.  

Senior executives, led by Chairman Ahmed Al-Khateeb and CEO Walid A. Abukhaled, will participate in high-level panels and discussions with government, military, and defense industry leaders.  

These engagements aim to provide insights into the defense sector and address industry challenges.  

The company plans to sign multiple memorandums of understanding and agreements during the event, strengthening its portfolio and making substantial contributions to the Saudi defense sector. 

The primary goal of the event, according to its CEO, is to establish itself as a comprehensive global platform for defense. To achieve this, it will bring together industry players worldwide throughout the supply chain, hosting daily panels and forums for discussion in its three content theaters.

New features 

Aligned with this year’s theme, “Equipped for Tomorrow,” which spotlights the future of defense, the forum will introduce several new features. One highlight is the immersive “Journey to the Future,” led by an animated interactive guide, offering visitors insights into groundbreaking innovations and debuts. 

Additionally, the guide will navigate visitors through the Future of Defense hub, emphasizing investments in new areas, startups, and inventions.  

Pearcey emphasized that this hub provides a platform for individuals with “disruptive ideas” to connect with those possessing the resources and global connections to develop them, underscoring the importance of continuous innovation in the defense industry.  

Furthermore, the hub serves as a showcase for young pioneers. Visitors can also anticipate daily dynamic live displays and a lineup of aircraft, featuring established mission aircraft, fighter jets, and helicopters.


Saudi Cabinet approves new law to regulate petroleum, petchem sector

Saudi Cabinet approves new law to regulate petroleum, petchem sector
Updated 07 January 2025
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Saudi Cabinet approves new law to regulate petroleum, petchem sector

Saudi Cabinet approves new law to regulate petroleum, petchem sector

RIYADH: Saudi Arabia’s Cabinet has approved a new Petroleum and Petrochemical Law to ensure a reliable and secure supply of products within the Kingdom.

The law, which was approved on Jan. 7, is designed to optimize the use of raw materials in the sector and support the localization of the value chain, according to a report by the Saudi Press Agency.

The new legislation will replace the existing Petroleum Products Trade Law and is expected to achieve several key objectives, including regulating petroleum and petrochemical operations. It aims to accelerate the sector’s growth, foster economic development, and encourage increased investment in the industry.

Upon the law’s approval, Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman expressed gratitude to the Cabinet, emphasizing that the law would help establish a robust legislative framework for the Kingdom’s energy sector. He added that the new directive would facilitate the optimal use of petroleum and petrochemical resources.

The law will regulate the use, sale, purchase, and transportation of petrochemical products, as well as oversee the operation of distribution stations and petrochemical facilities, the Saudi Press Agency report noted.

In addition to the Petroleum and Petrochemical Law, the Cabinet approved several other agreements on Jan. 7. These include a memorandum of understanding for cooperation between Saudi Arabia’s Ministry of Justice and Singapore’s Ministry of Law, an MoU on health cooperation with Morocco’s Ministry of Health and Social Protection, and an MoU to strengthen digital government collaboration between Saudi Arabia’s Digital Government Authority and Qatar’s Ministry of Communications and Information Technology.

The Cabinet also endorsed an air services agreement between Saudi Arabia and Eswatini, a Southern African nation.

Furthermore, the Cabinet reviewed ongoing development programs and projects aimed at diversifying the Kingdom’s economy, exploring new revenue streams, and maximizing the use of available resources.


EV maker Lucid becomes first global automotive manufacturing company to join ‘Made in Saudi’ program

EV maker Lucid becomes first global automotive manufacturing company to join ‘Made in Saudi’ program
Updated 07 January 2025
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EV maker Lucid becomes first global automotive manufacturing company to join ‘Made in Saudi’ program

EV maker Lucid becomes first global automotive manufacturing company to join ‘Made in Saudi’ program
  • Aims to increase industrial sector’s contribution to GDP to at least 20% by 2025
  • Move seeks to attract additional investments, enhance non-oil exports, and create sustainable job opportunities

RIYADH: Electric vehicle manufacturer Lucid Motors has become the first global automotive company to join the Kingdom’s “Made in Saudi” program as the country continues strengthening its industrial capabilities. 

The milestone grants Lucid the right to use the “Saudi Made” label on its products, symbolizing the nation’s focus on quality and innovation. 

The strategy aims to increase the industrial sector’s contribution to the gross domestic product to at least 20 percent by 2025, tripling the current industrial base. 

It also seeks to attract additional investments, enhance non-oil exports, and create sustainable job opportunities, aligning with Vision 2030’s economic diversification goal.

“This is a step that represents a strong push to enhance the image of the national industry and attract investments and global companies, which consolidates the Kingdom’s position as a global center for innovative manufacturing,” Minister of Industry and Mineral Resources Bandar Alkhorayef said in a post on his X account. 

In a separate statement, the minister said that Lucid Motors’ inclusion in the program underscores Saudi Arabia’s strategic transformation toward creating a fully integrated electric vehicle manufacturing ecosystem. 

The minister added that this initiative aligns with the objectives of the National Industrial Strategy, which focuses on empowering promising sectors and attracting high-value investments in advanced industries.

Lucid’s participation in the program follows the launch of its first international manufacturing plant in Saudi Arabia in Sept. 2023. 

Located in King Abdullah Economic City, the facility is the Kingdom’s first-ever car manufacturing plant and represents a key milestone in its efforts to build a domestic automotive industry. 

The facility can currently assemble 5,000 Lucid vehicles annually during its first phase. Once fully operational, the complete manufacturing plant, including the assembly line, is expected to produce up to 155,000 electric cars per year. 

Saudi Arabia is aggressively promoting the adoption of electric vehicles as part of its Vision 2030 strategy, which aims to achieve net-zero carbon emissions by 2060. 

A critical target of the initiative is for 30 percent of all vehicles in Riyadh to be electric by 2030, contributing to a broader goal of reducing emissions in the capital by 50 percent. 

To support the transition, the Public Investment Fund — a major backer of Lucid Motors — has been instrumental in establishing a domestic EV manufacturing sector. 

In addition to its stake in Lucid Motors, PIF has launched Ceer, the Kingdom’s first locally branded electric vehicle manufacturer, as part of its efforts to bolster the industry. 

Infrastructure development is also a core focus, with the Kingdom planning to deploy 5,000 fast chargers across Saudi Arabia by 2030 to facilitate the adoption of EVs. 

Consumer interest in EVs is steadily growing, with over 40 percent of Saudi consumers considering purchasing an electric vehicle within the next three years, according to a 2024 report by London-based professional services network PwC. 

Faisal Sultan, vice president and managing director for the Middle East at Lucid Motors, expressed the company’s pride in joining the program, saying: “We are delighted to join the ‘Made in Saudi’ program and have the honor of using the ‘Saudi Made’ label, which represents quality and excellence.”

He added: “We are committed to embodying the values of this national identity, such as sustainability, innovation, and excellence. With the increasing focus on electric vehicles in the Kingdom, we aim to deliver an advanced and unique experience to our customers.”

The minister said that Saudi Arabia has emerged as a central hub for electric vehicle production, supported by modern infrastructure, incentivizing policies, and a highly skilled workforce. 

He also said that major players like Lucid Motors strengthen the Kingdom’s position as a global center for future-focused industries while contributing to increased local content, non-oil exports, industrial localization, and knowledge transfer. 

Launched in March 2021, Saudi Arabia’s Made in Saudi program promotes domestic products and services, encouraging local consumption and boosting non-oil exports. 

The move aligns with Saudi Arabia’s broader industrial strategy, which aims to increase the sector’s gross domestic product contribution to 20 percent by 2025 and drive investments in advanced industries. 

It also supports Vision 2030’s goal of reducing the nation’s reliance on oil by fostering high-value sectors like electric vehicle manufacturing.


Closing Bell: Tadawul maintains upward momentum, closes at 12,113

Closing Bell: Tadawul maintains upward momentum, closes at 12,113
Updated 07 January 2025
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Closing Bell: Tadawul maintains upward momentum, closes at 12,113

Closing Bell: Tadawul maintains upward momentum, closes at 12,113
  • Parallel market Nomu dropped 54.97 points, ending the session at 30,809.12
  • MSCI Tadawul Index rose by 3.48 points to reach 1,514.39

RIYADH: Saudi Arabia’s Tadawul All Share Index extended its upward trajectory for the second consecutive day on Tuesday, rising by 8.60 points, or 0.07 percent, to close at 12,113.29.

The benchmark index recorded a total trading turnover of SR7.71 billion ($2.05 billion), with 124 stocks advancing, while 110 saw declines.

In contrast, the Kingdom’s parallel market, Nomu, dropped 54.97 points, ending the session at 30,809.12. The MSCI Tadawul Index also gained ground, rising by 3.48 points to reach 1,514.39.

The standout performer of the day was Almoosa Health Co., which made its debut on the main market. The stock surged by an impressive 14.96 percent, closing at SR146. Other notable gainers included Al Mawarid Manpower Co. and Saudi Reinsurance Co., whose share prices climbed by 10 percent and 9.23 percent, closing at SR125.40 and SR63.90, respectively.

On the flip side, Al-Baha Investment and Development Co. saw its share price fall by 4.44 percent, ending the day at SR0.43.

On the announcements front, Filling and Packing Materials Manufacturing Co. announced it had signed a Shariah-compliant credit facility agreement worth SR50 million with Al Rajhi Bank to finance its working capital.

According to a statement on Tadawul, the 12-month credit facility is backed by a promissory note covering its entire value. FIPCO clarified that there are no related parties involved in the agreement. The company’s stock inched up by 0.44 percent, closing at SR45.70.

Meanwhile, LIVA Insurance Co. revealed it had received a Baa2 insurance financial strength rating with a stable outlook from Moody’s. The rating reflects the company’s strong capital adequacy, solid asset quality, and conservative investment strategy, alongside moderate reserve risk.

LIVA emphasized that the rating underscores Moody’s confidence in the company’s enhanced underwriting discipline and its ability to maintain profitability and growth within the Saudi market. A Baa2 rating is considered medium-grade, indicating a company’s acceptable ability to meet short-term debt obligations. LIVA’s stock gained 0.57 percent, closing at SR17.60.


Saudi Arabia eases domestic worker quotas for HR firms

Saudi Arabia eases domestic worker quotas for HR firms
Updated 07 January 2025
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Saudi Arabia eases domestic worker quotas for HR firms

Saudi Arabia eases domestic worker quotas for HR firms
  • Only firms with 3,000 workers or fewer now have to meet the threshold
  • Firms with more than 15,000 workers are fully exempt from any domestic worker quota

RIYADH: Human resources firms in Saudi Arabia have welcomed the reform of a rule that required 30 percent of all employees to be domestic workers.

The change to the law, announced by the Ministry of Human Resources and Social Development, means that only firms with 3,000 workers or fewer now have to meet that threshold.

Those with a workforce ranging from 3,001 to 10,000 workers will instead be obligated to maintain a reduced quota of 20 percent, with that level dropping to 10 percent for companies with staffing levels between 10,001 to 15,000.

Firms with more than 15,000 workers are fully exempt from any domestic worker quota.

This policy shift is expected to balance supply and demand in the support workers sector, improving its legislative environment. 

It comes at a time when Saudi Arabia’s human resources management market is experiencing rapid growth, and prior to this decision market research firm Horizon Grand View Research projected the sector would expand by a compound annual growth rate of 11.1 percent from 2024 to 2030.

Companies affected by the changes issued statements on Tadawul welcoming the new rules, with Mawarid Manpower Co. stating that “this decision will have an impact on the company’s business, as it will alleviate the company’s obligation to recruit a specific percentage of the total workforce.”

Similarly, Saudi Manpower Solutions Co., also known a SMASCO, highlighted that “this decision aims to achieve a balance between supply and demand, thereby improving the legislative environment for the support (domestic) workers sector.”

Maharah Human Resources Co., which employs over 15,000 domestic workers, said that “it is not required currently to comply with any percentage for the household workers out of the total workforce.”

The company highlighted the cost-saving benefits of the new system, noting that “it is expected that this decision will have an impact on the company’s long-term business, as it will alleviate the company’s obligation to recruit a specific percentage of the total workforce and reduce recruitment costs for household resources to ensure compliance with previous percentages.” 

Additionally, the firm stated that the amendment “gives the company the ability to increase the workforce in the corporate sector to meet the growing demand without any constraints limiting that.”

The reform reflects Saudi Arabia’s broader efforts to modernize labor laws and streamline operations across key sectors. 


Saudi Arabia sees 45% annual growth in domestic flight bookings: report 

Saudi Arabia sees 45% annual growth in domestic flight bookings: report 
Updated 07 January 2025
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Saudi Arabia sees 45% annual growth in domestic flight bookings: report 

Saudi Arabia sees 45% annual growth in domestic flight bookings: report 
  • Domestic room night bookings also saw 39% yearly growth
  • Cities such as Makkah, Riyadh, Jeddah, Al-Khobar, and Madinah remain key attractions

RIYADH: Saudi Arabia recorded a 45 percent annual growth in domestic flight bookings in 2024, fueled by the Kingdom’s expanding tourism offerings and increased connectivity through low-cost carriers. 

According to Almosafer’s latest travel trend report, domestic room night bookings also saw 39 percent yearly growth. Additionally, combined domestic flight and hotel reservations contributed over 40 percent to the overall travel market, an 11 percent yearly increase. 

The growth in domestic travel is largely driven by a broader range of destinations, accommodation options, and experiences that continue to attract leisure visitors to explore their home country. Family and group travel have been key contributors to this upward trend, with bookings in these segments surging by over 70 percent.

Commenting on the trends, Muzzammil Ahussain, CEO of Almosafer, said: “These travel trends align seamlessly with the government’s vision to enhance in-destination value and increase domestic tourism as part of Vision 2030.”

Cities such as Makkah, Riyadh, Jeddah, Al-Khobar, and Madinah remain key attractions. 

However, emerging destinations like Abha, Al Jubail, and Jazan, as well as Tabuk and Hail, are gaining momentum due to their distinct offerings, including mountain views, beaches, landscapes, and desert experiences. 

“The growth of domestic tourism and the rise of family and group trips, with a focus on unique accommodation experiences and rich in-destination activities, showcase the success of the national agenda of building a thriving leisure tourism sector that contributes significantly to the economy,” Ahussain added.

Almosafer’s report highlights a notable shift in traveler preferences for accommodations. While luxury remains prominent, with 36 percent of room nights booked in five-star properties, budget-friendly stays in three-star or lower hotels now represent 35 percent of total bookings — a segment that has grown 100 percent for families and groups. 

Alternative accommodations such as vacation rentals and hotel apartments have also gained traction, with family bookings rising 90 percent and group reservations increasing 60 percent, reflecting growing demand for flexible and affordable lodging options. 

Low-cost airlines have also played a crucial role in the domestic travel boom. Increased capacity, expanded connectivity, and additional routes have made budget carriers more accessible to cost-conscious travelers. 

While flight bookings grew by 45 percent, the average order value decreased by 7 percent, demonstrating how expanded options are enabling travelers to secure more cost-effective deals. 

In-destination activities have become a cornerstone of travel value, with visitors increasingly opting for guided tours, adventure sports, and cultural experiences. 

Booking behavior also evolved in 2024, with mobile platforms dominating the market. App bookings grew by 67 percent and accounted for 76 percent of total bookings, while web reservations contributed 17 percent, reflecting 7 percent growth. 

Retail bookings, though representing a smaller 7 percent share, remain relevant for complex and higher-value itineraries as travelers seek in-person assistance for personalized planning. 

Flexible payment options have further transformed the travel market. Buy now, pay later plans have gained popularity, while Apple Pay accounted for 44 percent of all domestic bookings processed in 2024, reflecting the growing adoption of digital payment methods.