Saudi Arabia’s General Authority for Military Industries has invited defense companies to explore business opportunities in Saudi Arabia. GAMI Governor Ahmad Abdulaziz bin Al-Ohali, addressing participants at a recent defense and aerospace conference in Antalya, said the agency has partnered with industry stakeholders to create investment incentives for companies serving local and international defense markets.
The goal of the partnership is to promote business localization and support Saudi Arabia’s economic growth. Al-Ohali noted the localization rate of Saudi military industries has already reached 19.35 percent as of 2023.
Supply Chain Opportunities
According to a market study conducted in Saudi Arabia, 74 opportunities have been identified in the military supply chains as a result of GAMI’s collaborations with public and private partners. Almost half of these investment opportunities are classified as priorities, representing about 80 percent of future supply chain spending in the military sector.
Among the companies increasing their presence in Saudi Arabia is Leonardo. Last week, the Italian defense contractor announced that it had signed a memorandum of understanding with Riyadh to expand their collaboration on aerospace and defense technologies.