GAMI says licensed military industry companies increase by 41% in H1 2021

Logo of General Authority for Military Industries (GAMI)

The General Authority for Military Industries (GAMI) said that the number of licensed companies in the military industries sector reached 99, increasing by 41% in H1 2021, including local, international and mixed companies.  

Local firms constituted 85%, while international and mixed companies represented 15% of the total number of companies, the authority said in a statement.  

A total of 60% of the licenses were granted to companies operating in the military industries, while 24% and 16% of the permits were granted to military services and products supply, respectively.  

This comes as a result of unified efforts and integrated work with all partners from the public and private sectors, based on a strategy that developed regulatory frameworks for investment in the sector, GAMI said.  

This also contributed significantly to facilitating investment processes and removing any restrictions on the investor wishing to enter the military industries market in the Kingdom,  as long as that investor will be a partner of the authority in the process of localization, employment and transfer of technologies.  

The investment environment is currently attractive for domestic and international investors, to take advantage of the Kingdom's economic strength - being at the heart of international supply chains, particularly, through its strategic geographical location, spanning three continents.  

This makes Saudi Arabia the ideal destination for investment in this sector and other industrial sectors in general, the statement added.