HomeInsideSaudi Arabia to invest $20 bn in the domestic military industry

Saudi Arabia to invest $20 bn in the domestic military industry

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Beefing up the Saudi Arabia’s plan to boost domestic military industry spending, the Governor of General Authority for Military Industries (GAMI) has said, “The Saudi Government will over $20 billion in its domestic military industry over the next decade.”

Speaking at the Defence Conference in Abu Dhabi, Abdul Aziz Al Ohali, Governor of GAMI said, “The government has put a plan that it will be investing more than $10 billion in the military industry in Saudi Arabia and an equal amount on research and development.”

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“The kingdom plans to increase the military research and development (R&D) spending from 0.2% to around 4% of armaments expenditure by 2030,” Ohali added.

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Krishna Mali
Krishna Mali
Founder, CEO & Group Editor of TechGraph.
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