“Now it’s the year of delivery.
“Our plans include building further specialist steel, aluminum and composite vessels.
A key provider of maritime defense and security capabilities in the Kingdom, Zamil participated at the WDS to showcase its 32-meter high-speed interceptor for the RSNF.
The first one is a strategic partnership with UK-based global manufacturer Ribcraft to establish a rigid inflatable boat, or RIB, building facility in the Eastern Province.
The company is licensed by the General Authority for Military Industries, GAMI, to take up various defense activities, including manufacturing, services, and trade.
Its neighbor, the UAE, has become an important platform for re-exporting Chinese goods into the region and Africa.
The researcher believes that strong complementarities exist between China and the GCC across many sectors.
“GCC is vital for China’s energy security while China provides GCC with a stable market for exports.
He pointed out that these governments and their state-owned entities possess significant financial resources and have been tasked with quickly growing the digital economy.
For example, Abu Dhabi’s Mubadala, China Development Bank Capital, and China’s State Administration of Foreign Exchange set up a $10 billion UAE-China Joint Investment Fund in 2015.
In the GCC, the oil and gas sector still dominates the economy and represents a majority of countries’ revenues.
Most Gulf countries rely on different trading partners for crude oil exports.
He explained that strength in bilateral relations ultimately comes through diversification — primarily diversifying trade flows or foreign investments.
“Companies have to try and provide their best products and service to succeed.
Another major rating agency, Moodys, also downgraded Gazprom and Lukoil this week.