GAMI sets investment frameworks in military sector with no restrictions for foreign investors

17/09/2021 Argaam

Ahmad Al-Ohali, Governor of GAMI

The General Authority for Military Industries (GAMI) set regulatory frameworks for investment in the military industries sector. No restrictions are imposed for the foreign investors that aim to enter the Kingdom’s military industries market as long as those investors will be partners in the target localization, employment and technology transfer, Ahmad Al-Ohali, Governor of GAMI, said.

 

Saudi Arabia has become an optimum destination for investment in this sector in particular, and for other industrial sectors, Al-Ohali added in a meeting with some investors from the UK and other European countries.

 

The meeting was held as part of the efforts made to explain the investment climate of the sector and the target localization opportunities to attract investments to the Kingdom, Al-Ohali concluded.

 

GAMI targets 50% localization of Saudi Arabia's military spending by 2030, Argaam earlier reported.

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