IDEX 2019: Saab advances its work in developing an indigenous industrial capability in the UAE

IDEX 2019: Saab advances its work in developing an indigenous industrial capability in the UAE

(PRESS RELEASE) ABU DHABI, 20-Feb-2019 — /EuropaWire/ — Saab made yet another important step in progressing with its plans and works to develop an indigenous industrial capability in the UAE. At IDEX 2019, MENA region’s leading defence exhibition and conference, Saab signed a crucial agreement with Tawazun Economic Council to advance its operations in the United Arab Emirates (UAE).

The agreement was signed at the Tawazun Economic Council’s stand at IDEX 2019 in Abu Dhabi.

At the signing ceremony were present Håkan Buskhe, Saab President and Chief Executive Officer, Matar Ali Al Rumaithi, Tawazun Economic Council’s Chief Economic Development Officer and His Excellency Tareq Abdulraheem Al Hosani, Chief Executive Officer of Tawazun Economic Council.

Matar Ali Al Romaithi, Chief Economic Development Officer of Tawazun Economic Council:

“Our agreement with Saab represents the vital role that the Tawazun Economic Program plays in supporting and enabling the defence and security sector in the UAE, as well as attracting foreign direct investment. We look forward to the positive impact that Saab will have on enhancing research and development through its expected partnerships with numerous educational institutions and SME’s in the country”.

Håkan Buskhe, President and CEO of Saab:

“The agreement today is very important to Saab’s work in developing an indigenous industrial capability in the UAE, which will support our common vision of a technology company designing and producing solutions with a global market in mind. I am delighted to be here at IDEX with Tawazun to sign this agreement as the latest milestone in establishing that business, and to the development of a world-class emirate defence and security industry”.

Saab’s strategy is to increase international presence and enhance its sales and profitable growth and today’s agreement is in line with that strategy.

Saab’s operations in the UAE will create high-tech jobs and build engineering skills in the country.

Tawazun Economic Council has been established in 1992 and since then has grown to become a center of excellence in the development and fast-track execution of new and diverse commercial projects in the United Arab Emirates (UAE). Its main objective is to derive economic value from the country’s extensive defense procurement program and any foreign defense contractor supplier to the UAE, with over USD 10 million (~EUR 8,800,000) in contract value over a five year period, must participate in the Tawazun Economic Program, managed by the Tawazun Economic Council.

With operations and employees on all continents around the world, Saab is a leading supplier of products, services and solutions for the military defence and civil security industries.

SOURCE: Saab