Saudi Arabia’s General Authority for Military Industries (GAMI) has unveiled several investment opportunities in the defence sector, as the kingdom seeks to bolster its military readiness and localise the production of supplies.
At least 10 opportunities with both civilian and military applications have been announced by GAMI, and also by Saudi Arabia’s investment promotion platform “Invest Saudi”, in coordination with the Saudi Ministry of Investment, according to the Saudi Press Agency (SPA).
According to GAMI’s website, the investment opportunities are in line with the Saudi Vision 2030 targets, particularly in terms of localising the production of an integral military supply chain.
GAMI, which is the regulator of the kingdom’s military industries, is inviting businesses to invest in the production of military components and related supplies that are used in warfare systems, such as batteries, electronic circuits, capacitors, semiconductors, resistors, pumps, valves and aircraft propeller parts, among others.
Those who are interested are advised to contact the GAMI team via the authority’s website, to get more details.
(Writing by Cleofe Maceda; editing by Seban Scaria)