Riyadh, Saudi Arabia, December 30, 2021 – Advanced Electronics Company (“AEC”), a (SAMI) company, and Saudi Arabian Oil Company (“Aramco”) are collaborating to promote the localization of digital businesses in Saudi Arabia.
The two companies have signed a memorandum of understanding (MoU) to accelerate the Kingdom’s digital ecosystem development in the presence of Eng. Walid AbuKhalid, Chairman, AEC and CEO, SAMI.
The partnership aims to support wider efforts to enable Internet of Things (IoT) technologies, computing and communication, robotics, drones, and semiconductors that complement the expansion of the digital ecosystem at large in the Kingdom.
Aramco has included the Industrial Digital Business (IDB) under the industrial investment program, Aramco Namaat, which aims to complement the establishment of various digital hubs in Saudi Arabia.
The program aims to maximize local content, contribute to GDP growth, create new jobs, accelerate digital talent development, and enhance Aramco’s reliability and operational efficiency.
Ahmad Al Sa’adi, Aramco SVP Technical Services, said: “This partnership aims to help us to develop local talent as we work with leading technology providers to add value to the company and wider economy.”
Ziad Al-Musallam, AEC President and CEO, said: “The cooperation with Aramco is expected to contribute to the efficiency and value of the supply chains in the industrial digital businesses, especially at the engineering, manufacturing, and services level, across many systems and products used in the ICT, security, and energy sectors. AEC is very proud of this collaboration, and this is another major step in the long-standing co-development relationship we have shared with Aramco for many years.”
The program is designed to drive increased investment, economic diversification, job creation and workforce development within the Kingdom.
Founded in 1988 and based in Riyadh, AEC is one of the leading technology, electronics, and manufacturing companies. The company specializes in designing, developing, manufacturing, maintaining, and repairing advanced systems and products in the defense, aviation, information and communications technology, security and energy sectors.
AEC employs more than 2,200 employees, 85% of whom are Saudis, including over 800 highly skilled and certified male and female engineers working in various fields. AEC is wholly owned by the Saudi Arabian Military Industries Company (SAMI), a national entity wholly owned by the Public Investment Fund (PIF).