Riyadh: Saudi Advanced Technologies (SAT) announced that it has successfully obtained the operating licenses in the Kingdom’s defense sector, making SAT among the first companies to receive industrial licensing agreements by the General Authority for Military Industries (GAMI). The agreement was awarded to SAT by His Excellency Eng. Ahmad bin Abdul Aziz Al-Ohali, Governor of GAMI, during a press conference held by GAMI on Monday, 11th November 2019.
Dr. Abdulrahman Al Zamil, Chairman of Saudi Advanced Technologies, acknowledged GAMI’s continued support of private sector entities to invest in the Kingdom’s defense industry, as it encourages the localisation of the overall defense capabilities of Saudi Arabia, which is in line with Kingdom’s Vision 2030 mandate to localize 50% of the Kingdom’s military expenditure, as well as enhances the cooperation between both the public and private sectors.
Ayman Al-Hazmi, President of Saudi Advanced Technologies, commented: “We at SAT aim to be an integral strategic partner to the Saudi government in supporting and encouraging the localisation of the Kingdom’s defense capabilities, and we look forward to a future where Saudi Arabia is among the leading countries in exporting and producing these capabilities.”
He added: “SAT is working towards training and rehabilitating local manpower to work in the defense industry, given our expertise and knowledge in the field of precision mechanical engineering which is crucial in key defense products such as spare parts for mechanical equipment, defense machinery, as well as several mechanical parts for airplanes. Our aptitude to swiftly and efficiently design, manufacture and assemble products in defense, aviation, oil and gas sectors, has cemented our leadership globally and regionally.”
SAT has entered into strategic partnerships with leading global entities, ahead of GAMI’s announcement of launching its operational licensing program which is aimed at regulating, improving and monitoring the Kingdom’s defense sectors.
© Press Release 2019