Saudi Arabia to become future exporter of military products and technologies: Investment Minister

Riyadh — Saudi Arabia is aiming to become a future exporter of military products and technologies to other countries, Minister of Investment said on Sunday.

The Minister Khalid Al-Falih, while addressing a panel discussion on the sidelines of the General Authority for Military Industries’ (GAMI) said, “The competitiveness of human resources in the Kingdom is a key element”.

“The localization rate in the military industries sector is promising and rising,” the Minister added. “It is up from 2 percent since the launching of GAMI to over 10 percent now”.

GAMI was established in 2017, and is described as the regulator, enabler and licensor of the Kingdom’s military industries sector.

GAMI is responsible for building a sustainable domestic defense sector, while reinforcing the Kingdom’s autonomy, military readiness and national security.

It aims to localize more than 50% of the Kingdom’s military expenditure over the next decade in line with Prince Mohammed Bin Salman’s Vision 2030 .