February 24, 2023

GAMI expects investments in military industries to reach SAR 43 bln in next 5 years

Logo of General Authority for Military Industries (GAMI)

The General Authority for Military Industries (GAMI) stated that the military industries sector witnessed 342 licenses issued for 192 facilities until the end of 2022.

The sector is expected to lure investments worth nearly SAR 43 billion over the next five years, Saudi Press Agency reported.

The authority added that it worked with companies from the public and private sectors to create an attractive investment environment for international investors to benefit from the Kingdom’s strong economy.

The sector’s investment environment has great opportunities and qualitative incentives that will support and enable local and international investors to contribute to supporting the development and localization of the sector, GAMI noted.

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