Saturday, 18 September 2021 04:03 GMT

Number of licensed companies in Saudi Arabia’s military sector increases

(MENAFN)New data from the General Authority for Military Industries (GAMI) showed that the figure of licensed companies in Saudi Arabia’s military sector increased sharply in the January-June period of 2021.

A 41 percent improvement was reported in licensed companies to stand at an amount of 99 — 85 percent of them local companies. Over half (55 percent) were settled to operating companies as military services providers amounted at 24 percent and product suppliers accounting for the rest.

GAMI Governor Ahmad Al-Ohali stated that “Through the National Military Industries Sector Strategy we have identified 11 target areas as strategic priorities, developed a research roadmap, adopted an acquisition strategy, and identified how to incentivize the enablers that will help the military industries flourish in the Kingdom.”

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