SAMI-AEC showcases advanced tech capabilities and innovations at LEAP 2024

Fahad Al-Naeem, EVP at SAMI-AEC told Arab News that his company offers a new layer of artificial intelligence to solidify the company’s position as a Saudi leader in AI solutions. AN Photo by Huda Bashatah
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Updated 05 March 2024
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SAMI-AEC showcases advanced tech capabilities and innovations at LEAP 2024

RIYADH: SAMI Advanced Electronics Co. is ready to unveil its state-of-the-art technological innovations as it makes its third appearance at LEAP 2024.

The world’s most-attended tech expo is being held in Riyadh from March 4-7,  and will feature the industry’s top figures, including the Executive Vice President of the Business Division at SAMI-AEC Fahad Al-Naeem who told Arab News that his company offers a new component of artificial intelligence to solidify its position as a regional leader in the sector.  

“This new layer will enable us to lead able, hard, and proactive services to have solutions that support and give Saudi citizens and residents a higher quality of life,” he said.

Established in 1988, SAMI-AEC is a subsidiary of Saudi Arabian Military Industries. The firm focuses on electronics, technology, engineering, and manufacturing, with its services spanning sectors including defense, aerospace, and the digital world, as well as energy and security.  

Al-Naeem highlighted that a number of the company’s products and services showcased at the exhibition focus on smart cities and physical and cyber security. 

“We have products related to physically securing premises through capturing imagery, and this imagery is analyzed through utilizing AI to identify any foreign objects attached to the car,” he said.

This solution ensures securing premises from objects detected on vehicles and denying access. 

Al-Naeem added that the company is continually evolving, saying: “We always add new services with new capabilities. We have very high requirements upon ourselves, so that is a threshold that we have to engage and ensure that all of the services or the majority of our services are Saudized.”

The backbone of this enterprise is a robust workforce of over 2,800 individuals, of whom 86 percent are proficient Saudi nationals, and more than 800 of employees are engineers and certified experts.

Commenting on the participation at LEAP 2024, Ziad Al-Musallam, CEO of SAMI-AEC, said in a press release that hosting this annual event is a notable moment for Saudi Arabia and the regional tech ecosystem.

“With the Kingdom aspiring to transform itself into a hub for innovation and a global leader in developing emerging technologies, platforms like LEAP play a pivotal role in catalyzing and advancing our technological capabilities,” he said.

Al-Mussallam said these international events provide an exceptional opportunity to interact with leading global technology companies, explore potential partnerships and business opportunities, and discover groundbreaking innovations within the digital sector. 

He added: “It empowers Saudi organizations to demonstrate their technological capabilities to the world and enhance its global competitiveness.” 


Saudi Export-Import Bank signs reinsurance agreement with the German Export Credit Agency

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Saudi Export-Import Bank signs reinsurance agreement with the German Export Credit Agency

RIYADH: The Saudi Export-Import Bank has signed a reinsurance agreement with Germany’s official Export Credit Agency, managed by Euler Hermes Aktiengesellschaft, with the aim of enhancing credit risk insurance coverage to meet the needs of local exporters of capital goods and production inputs from the Federal Republic of Germany.

This agreement is part of the bank’s efforts to strengthen partnerships with international export credit agencies, ensuring the safe and sustainable flow of essential raw materials and capital goods, and enhancing the efficiency of export activities by local enterprises, according to the Saudi Press Agency.

The agreement was signed by Saad bin Abdulaziz Al-Khalb, CEO of the Saudi Export-Import Bank, and Edna Schone, board member of Euler Hermes Aktiengesellschaft and head of its Export Credit Agency.

Al-Khalb stated that the reinsurance agreement with ECA represents an important step in expanding credit risk management tools and enabling local exporters to obtain the production inputs and capital goods necessary to grow their businesses with greater confidence.

He noted that cooperation with international export credit agencies reflects the bank’s commitment to developing advanced insurance solutions that contribute to the growth of the Kingdom’s foreign trade, as part of its pivotal role in strengthening the non-oil national economy.

Through this agreement, the Saudi Export-Import Bank continues to support the growth of Saudi non-oil exports and expand its network of international partnerships, in alignment with the goals of Vision 2030 to diversify the national economy and enhance the Kingdom’s position in global trade.