The UAE awarded 13 military contracts worth Dh3.97 billion ($1.09 billion) on the first day of the International Defence Exhibition and Conference (Idex), with the majority going to local companies.
UAE Armed Forces awarded nine contracts worth Dh3.83 billion to local companies, including defence conglomerate Edge, while international firms won four contracts valued at Dh143.4 million, officials from the Tawazun Council said on Monday.
Among the domestic companies, the International Golden Group clinched the biggest deal of Dh685.8 million to procure ammunition. Edge Group won a Dh399.4 million contract for data provisioning and smart services software. Thales Emarat Technologies was awarded a Dh110.5 million to provide spare parts and materials as well as offering maintenance and technical support services.
Other UAE companies that sealed deals on day one include Calidus Land Systems, which will provide multi-tasking vehicles in a Dh1.8 billion contract. Al Masaood clinched a Dh20 million contract for spare parts, maintenance and technical services, while National Marine Dredging Company will provide unmanned platforms in a Dh299.2 million deal. Injazat Data Systems also won a contract worth Dh138.7 million to provide digital transformation implementation services.
“Most of the deals were awarded to local companies, which indicates the ability of domestic firms to meet the requirements of the Ministry of Defence with high efficiency and very good quality. This competition makes the UAE have a strong base in the defence industry,” said Saeed Al Mansouri, director of Idex, at Adnec.
International companies also have an important role as they continue to satisfy the Ministry of Defence's requirements in terms of spare parts for existing systems as well as for new products, he added.
Germany’s Rheinmetall was among the international companies that won contracts from the Armed Forces yesterday – securing the biggest awarded to a foreign company. Rheinmetall Electronics signed Dh71.8 million contract to provide technical support services, maintenance, repair, provision of spare parts, logistics and maintenance of tactical engagement systems.
Finland’s Patria won a Dh21 million deal to provide technical support, repair and supply of spare parts for Patria machinery. Rheinmetall Air Defence’s Dh18.6 million deal and Maxar satellite company’s Dh31.9 million rounded off the day’s contracts for foreign firms at the defence expo.
Local companies winning the majority of deals underpins the success of the UAE's Operation 300bn strategy – which seeks to increase the contribution of the domestic industrial sector to the country's gross domestic product to Dh300 billion by 2031. The contracts are also part of a wider strategy to develop the local defence manufacturing industry to reduce reliance on foreign suppliers.
Edge, the UAE's defence manufacturing giant, unveiled 46 new systems and solutions across its portfolio, boosting the group’s diverse portfolio to 216 products, it said on the first day of Idex.
“This is by far our most advanced display to date, showcasing not only next-generation solutions but the critical technologies that power them,” Hamad Al Marar, managing director and chief executive of Edge, said.
“We have moved beyond delivering standalone systems to developing integrated, multi-domain capabilities that enhance mission effectiveness and operational superiority. From autonomous platforms and advanced sensing technologies to secure communications and counter-UAS solutions, every product we are unveiling at Idex 2025 is designed to deliver real-world impact.”
Separately, Maestral – Edge’s joint venture with Italian shipbuilder Fincantieri – was awarded a €500 million ($523.69) contract by the Tawazun Council to provide fleet maintenance management services for the UAE Navy, Edge said.
Under the five-year contract, Maestral will be a strategic industrial partner, overseeing comprehensive fleet maintenance and meeting the UAE Navy’s operational and logistical requirements.
Idex is the Middle East’s largest defence expo, attracting industry leaders eager to display their latest military technology – from drones to armoured vehicles.
More than 150,000 visitors are expected to attend the global defence industry's week-long showcase, where more than 1,565 exhibitors from across the world will be in attendance. Featuring 41 country pavilions, the event is spread across more than 180,000 square metres of exhibition space.
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Start-up hopes to end Japan's love affair with cash
Across most of Asia, people pay for taxi rides, restaurant meals and merchandise with smartphone-readable barcodes — except in Japan, where cash still rules. Now, as the country’s biggest web companies race to dominate the payments market, one Tokyo-based startup says it has a fighting chance to win with its QR app.
Origami had a head start when it introduced a QR-code payment service in late 2015 and has since signed up fast-food chain KFC, Tokyo’s largest cab company Nihon Kotsu and convenience store operator Lawson. The company raised $66 million in September to expand nationwide and plans to more than double its staff of about 100 employees, says founder Yoshiki Yasui.
Origami is betting that stores, which until now relied on direct mail and email newsletters, will pay for the ability to reach customers on their smartphones. For example, a hair salon using Origami’s payment app would be able to send a message to past customers with a coupon for their next haircut.
Quick Response codes, the dotted squares that can be read by smartphone cameras, were invented in the 1990s by a unit of Toyota Motor to track automotive parts. But when the Japanese pioneered digital payments almost two decades ago with contactless cards for train fares, they chose the so-called near-field communications technology. The high cost of rolling out NFC payments, convenient ATMs and a culture where lost wallets are often returned have all been cited as reasons why cash remains king in the archipelago. In China, however, QR codes dominate.
Cashless payments, which includes credit cards, accounted for just 20 per cent of total consumer spending in Japan during 2016, compared with 60 per cent in China and 89 per cent in South Korea, according to a report by the Bank of Japan.
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