Saudi Arabia to invest over $20 bln in military industry over next decade, says official

Ahmed Al-Ohali, governor of the General Authority for Military Industries

Saudi Arabia will invest more than $20 billion in military industry over the next 10 years as part of its plans to boost local military spending, Reuters reported, citing Ahmed Al-Ohali, governor of the General Authority for Military Industries (GAMI).

“The government has put a plan that we will be investing in excess of $10 billion in the military industry in Saudi Arabia over the next decade and equal amounts on research and development,” Al-Ohali told a defense conference in Abu Dhabi.

He noted that the Kingdom plans to increase its military research and development spending from 0.2% to nearly 4% of armaments expenditure by 2030.

According to data compiled by Agraam, Saudi Arabia aims to localize 50% of the military industry, as part of its Vision 2030.