Saudi Arabia launches military industrial licensing program

09/09/2019 Argaam

 

Saudi Arabia has begun accepting license applications for firms in the military industrial sector, a major target under plans to diversify the Kingdom's economy away from oil exports.

 

The General Authority for Military Industries (GAMI) will license companies to manufacture firearms, ammunition, military explosives, military equipment, individual military equipment, and military electronics, Saudi Press Agency reported.

 

“The move would open the door for foreign and local investment in the sector,” GAMI Governor Ahmed al-Ohali said.

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