Arab News, Monday, Sep 9, 2019 | Muharram 10, 1441
Saudi Arabia launches military industrial licensing program
Saudi Arabia: Saudi Arabia
said on Sunday it had begun accepting license applications for firms in the
military industrial sector, a major target under plans to diversify the
Kingdom’s economy away from oil exports.
The General Authority for Military Industries (GAMI) will license companies to
manufacture firearms, ammunition, military explosives, military equipment,
individual military equipment, and military electronics, state news agency SPA
reported.
GAMI Governor Ahmed Al-Ohali said the move would open the door for foreign and
local investment and is an important step toward regulating the sector.
The announcement comes within the framework of the authority’s strategy aimed at
localizing the military industries as part of the national priorities and to
promote joint operation between all security and military fields, in order to
develop a sustainable domestic military industry sector.
GAMI is also developing standards for military industries, supervising their
implementation in conjunction with the concerned authorities and identifying
suitable sites for setting up military factories.
Al-Ohali said that the authority seeks to transfer technology and benefit from
local companies’ manufacturing opportunities, according to a mechanism that
ensures the growth of all companies in the military industries sector and
promotes the sector internally and externally.