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No restrictions on foreign investment in Saudi military industries: GAMI

Saudi Arabia, UAE launches joint military exercise

Saudi General Authority of Military Industries (GAMI)  confirmed that there are no restrictions on foreign investment in military industries in light of the current controls.

This came during its meeting in the South Korean capital, Seoul, with more than 40 investors in the fields of military and defense industries.

The Ministry of Investment and the Saudi Military Industries Company “SAMI” revealed during a workshop organized by the General Authority for Military Industries on the sidelines of the International Aerospace and Defense Exhibition (ADEX), held in the South Korean capital, Seoul, its strategy to support and empower all its partners to continue the process of localizing the sector and achieve Reaching a localization rate of more than 50% of government spending on military equipment and services by 2030, in addition to reviewing the most promising investment opportunities in the sector, and introducing the sector’s environment that is witnessing an unprecedented movement in terms of empowering local and international investors.

His Excellency the Minister of Transport and Logistics, Eng. Saleh bin Nasser Al-Jasser, confirmed that the Kingdom of Saudi Arabia has attached great importance to the transport and logistics sector, noting that the national strategy for the transport and logistics sector was recently approved.

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