PRESSTV.COM September 9, 2019 – Saudi Arabia said
on Sunday it had 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.
General Authority for Military Industries (GAMI) will license companies to
manufacture firearms, ammunition, military explosives, military equipment,
individual military equipment, and military electronics, state news agency SPA
is needed to meet reforms announced by Crown Prince Mohammed bin Salman who
wants Riyadh to produce or assemble half its defence equipment locally in order
to create 40,000 jobs for Saudis by 2030.
Arabia, one of the world’s top arms importers, says it has launched a program
to license firms seeking to participate in its own military industrial sector.
General Authority for Military Industries (GAMI) announced on Sunday the start
of receiving license applications for firms to manufacture firearms,
ammunition, military explosives, military equipment, individual military
equipment, and military electronics in the kingdom.
Governor Ahmed al-Ohali described the move as a significant step towards
attracting domestic and foreign investment to the sector, state-run Saudi
Press Agency (SPA) reported.
Arabia’s de facto ruler Crown Prince Mohammed bin Salman, who has drawn
criticism for following confrontational policies in the region, has already
said he wants the kingdom to produce or assemble half of its military
2015 – only two months after being appointed as defense minister, the young
prince authorized the ongoing Saudi-led war against Yemen. Riyadh and its
allies — including the United Arab Emirates — have sparked outrage by leading
a war that has killed thousands of Yemeni civilians.
invaded Yemen in a bid to reinstall the former Saudi-allied regime and
eliminate the Houthi Ansarullah movement, but it has failed to reach any of
January 2016, Riyadh severed diplomatic relations with Tehran over angry
protests in Iran following the execution of a Shia cleric in Saudi Arabia.
The Stockholm International Peace Research Institute (SIPRI) reported earlier this year that Saudi Arabia became the world’s top arms importer after its arms imports in 2014-2018 increased by 192 percent, compared to the preceding five years. [Read More]