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Saudi Arabia: Deal-making offers Riyadh relief from arm sales woes
Saudi Arabian Military Industries (Sami), the defence arm of Crown Prince Mohammed Bin Salman’s favoured investment vehicle the Public Investment Fund (PIF), stepped up its deal-making activity in late June, with a string of acquisitions and joint ventures. The deals are significant given the opposition that Saudi Arabia continues to face with its defence procurement efforts with suppliers in Europe and North America and indicate that Riyadh is accelerating its efforts to develop its indigenous defence industry.
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