The UAE Armed Forces have signed deals worth $583 million at the event of the International Defence Exhibition and Conference (IDEX), with local companies.
Mr. Brig Gen Mohammed Al Hassani, the official spokesman for IDEX, announced that the Armed Forces, which signed 24 contracts in total, awarded 18 contracts valued at $0.3 billion to local companies.
International companies won six contracts worth $196 million with the single largest contract being awarded to the UAE-based International Golden Group at $132 million.
Over the four days of the event, the value of contracts awarded reached $5.5 billion, almost the same as the total amount reached last year’s IDEX.
The UAE Ministry of Defense (MoD) and Tawazun Economic Council have signed an agreement to establish and organize the planning and execution of research and development (R&D) for the defense and security sectors.
The ministry will be responsible for defense and security policy-making while Tawazun is mandated to oversee the UAE’s defense and security R&D programs.
Tawazun’s Chief Executive Officer Mr. Tareq Abdulraheem Al Hosani remarked that “Based on our analysis of the existing ‘in-country capabilities, the R&D portfolio will include a range of short and long-term projects from basic and applied research through to prototypes and product development to achieve our national objectives. The definition of the R&D projects will be aligned with the prioritized sectors in defense and security”.
The cooperation will ensure the development of national defense capabilities that meet the operational requirements of the UAE Armed Forces and will evaluate them against the emirates’ defense and security goals and objectives, according to the statement.
Tawazun has also signed an agreement with Al Fattan Holding Investment to support the plans of the UAE ship-building group to upgrade its three shipyards in Abu Dhabi and Fujairah to meet the operational requirement of the UAE Naval and Air Forces.