The UAE Armed Forces signed 11 deals, worth AED 7.29 billion (£1.4bn) with local and international companies on the second day of the International Defence Exhibition (IDEX) and the Naval Defence Exhibition (NAVDEX) 2021.
Staff Brigadier-General Mohammed Al Hassani, Official Spokesperson of the IDEX and NAVDEX exhibitions, said: “The total amount of deals signed with international parties amounted to AED 6.98 billion, which is 95 per cent of the total value of deals. Meanwhile, the value of deals signed with UAE companies reached AED 310 million, or 5 per cent of the total value of deals.
“Nine contracts were awarded to foreign companies, and 2 contracts were awarded to companies based in the UAE,” he added.
The deals were announced during a press conference held in the presence of Naval Staff Colonel Fahed Nasser Al Thehli and Lieutenant-Colonel Staff Maya Rashid Almazrouei, spokespersons for IDEX and NAVDEX 2021.
The exhibitions will run until February 25.