The Saudi Ministry of Investment, in partnership with the Saudi Arabian Raytheon Company, announced an initiative within the program to attract global supply chains, which will see the manufacture of major parts for the Patriot air defense and missile system in the Kingdom of Saudi Arabia.

His Excellency the Minister of Investment, Eng. Khalid bin Abdulaziz Al-Falih, said: “We welcome Raytheon’s decision to choose the Kingdom of Saudi Arabia as a prime location for building resilience in its international business. The investment opportunities offered by the National Investment Strategy also provide great advantages to advanced global industrial companies, such as Raytheon Company, where the Ministry of Investment operates Investing in providing attractive advantages to these companies through the Supply Chain Attraction Program, given the Kingdom’s strategic location in the middle of three continents, which can serve more than 50% of the world’s population within 5 travel hours.”

He added: "The Supply Chain Attraction Program provides an opportunity for companies to protect and enhance their business by restructuring and strengthening their global supply chains, and the military sector will be a major driver of the program, through dual-use defense technologies that mainly contribute to the development of other strategic sectors such as advanced materials and precision engineering. aviation, marine and industrial automation.

For his part, Tom Laliberte, Head of Land Warfare and Air Defense for Raytheon Technologies, said: “Vision 2030 outlines the ambitious goals of localizing the military sector, including developing the Kingdom’s domestic supply chain capabilities. Raytheon Saudi Arabia plays an important role in the Kingdom’s supply chain by establishing partnerships with The local sector to support the local aerospace and defense industries sector.

Laliberte added: “The Patriot system is known around the world for its protection benefits, and the fact that key components of the system’s global supply chain are manufactured in Saudi Arabia demonstrates the maturity and potential of the Kingdom’s industrial capabilities.”

Laliberte explained that the continuous transformation of the Kingdom of Saudi Arabia provides new opportunities at an unprecedented pace, and the Ministry of Investment facilitates ways to access these opportunities by activating an active investment system between government sectors, in addition to strengthening business through its investment journey.

It is noteworthy that the Ministry of Investment, through a network of business centers throughout the Kingdom, establishes partnerships with local and international companies of all levels and sizes - from start-ups to major multinational companies - in order to contribute to making investment in the Kingdom as smooth and simplified as possible.