(MENAFN - Khaleej Times) Platform to accelerate development of technological capabilities
Mubadala development company tawazun holding and emirates advanced investments have shown their interest to explore the synergy opportunities that could be created by the unification of their defence services businesses.
Homaid al shemmari saif mohamed al hajeri and obeid al mansouri at the signing ceremony in abu dhabi on thursday. — supplied photo
An mou signed at the international exhibition for security and national resilience (isnr) in abu dhabi will form the basis of discussions regarding the creation of a single integrated abu dhabi-based defense services platform.
Benefits that could be realized from the creation of an integrated platform include economies of scale supply chain rationalisation and a single point of contact for customers.
The creation of an integrated platform would also help to accelerate the development of technological capabilities and drive additional employment opportunities for uae citizens.
Homaid al shemmari chief executive officer aerospace and engineeringervices at mubadala development company said that the three companies currently manage a range of complementary defense services businesses. “there is a clear opportunity to combine our related assets to the benefit of the uae’s wider defense sector as well as our local and international customers. we believe an integrated defense services platform can drive both technological advancement and job creation”
Unifying the capabilities presents an opportunity to further catalyse the growth of these businesses said saif mohamed al hajeri chief executive officer tawazun holding. “all the parties involved stand to benefit from a successful outcome of these discussions” al hajeri said.
Obeid al mansouri ceo emirates advanced investments group said the consolidation of the businesses will deliver benefits to all stakeholders. each of the businesses has already delivered impressive growth and their unified potential is even greater. these discussions are a clear indication of the potential that will be created by the combined growth of our businesses he said.