Private Sector to Play Bigger Role in Saudi Military Industries
In a move aiming to enhance the involvement of Saudi private sector in military industries, the Federation of Saudi Chambers has announced the establishment of the first national committee dedicated to military industries.
The new committee elected Salman Al-Shatri as chairman, and Zeyad Al-Mohaymeed as vice chairman, according to Saudi Press Agency (SPA).
The committee will work with relevant agencies and authorities, such as the General Authority for Military Industries (GAMI), the Saudi Arabian Military Industries (SAMI), and others, to achieve the goal of localizing technologies and encourage more companies to join the industry.
Speaking to Asharq Al-Awsat, Al-Shatri stressed that this step aims to boost the number of companies in the sector, increase investments through coordination and collaboration, and represent the private sector, both domestically and internationally.
According to Al-Shatri, the committee will open direct communication channels with relevant ministries to ensure local and long-term projects for the industry. It will also share feedback and recommendations with relevant authorities, including the Ministry of Industry and Mineral Resources, Ministry of Investment, Saudi Zakat, Tax, and Income Authority and others.
This move reflects a concerted effort to align with the strategic directives recently announced by the Federation of Saudi Chambers, aiming to keep pace with modern economic sectors emphasized in Vision 2030, which aims to nationalize more than 50% of the military industries sector by 2030.
