IDEX: 70 military industry companies invest 24 billion riyals in Saudi Arabia – Saudi News

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The Media Center for the Saudi Pavilion, led by the General Authority for Military Industries, participating in the International Defense Exhibition “IDEX 2021” in Abu Dhabi, revealed an increase in the number of companies operating in the military industries sector in the Kingdom, as the number of local and international companies reached more than 70 companies by the end of the year 2020 Estimated investments of 24 billion Saudi riyals.The authority stated that it licensed 70 local and international companies until the end of the year 2020, as the number of these companies’ licenses reached 114 licenses that will enable them to practice several different activities in the military industries sector, as the percentage of manufacturing licenses reached 57%, and the percentage of military service licenses reached 25%, while it reached The percentage of supply licenses is 18%, and the percentage of licensed national companies in this sector reached 81%, while the percentage of foreign and mixed companies reached 19% of the total number of companies until the end of 2020.

The authority stated that it aims to support investors and facilitate their entry into the Saudi military and security industries market, to be part of its strategy in terms of localizing the military industries sector, with more than 50% of the Kingdom’s spending on military equipment and services by 2030.

The authority stated that licensing.gami.gov.sa allows all investors to issue foundational permits and military licenses that include 6 different activities in the sector, such as military equipment, military services, and military electronics, in addition to military electronic services, as well as ammunition and explosives manufacturing. .

It is noteworthy that the General Authority for Military Industries is the authority responsible for regulating, enabling and licensing military industries in the Kingdom, and it has been entrusted with the task of developing a sustainable sector for defense and security industries in the Kingdom, which strengthens its strategic independence in this field, strengthens the foundations of its national security and supports its economic and social prosperity.







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