Saudi Arabia Reaches 24.89% Localization of Military Spending
The General Authority for Military Industries (GAMI) announces significant progress toward the goal of 50% localization by 2030.
Riyadh, Saudi Arabia: The General Authority for Military Industries has reported a localization rate of 24.89 percent for military spending in the Kingdom of Saudi Arabia as of the end of 2024.
This development marks a major step toward achieving the national goal of exceeding 50 percent localization by 2030.The announcement was made during the inaugural annual meeting dedicated to the military industries sector, organized under the patronage of GAMI's Governor Ahmed bin Abdulaziz Al-Ohali in Riyadh.
The event saw wide participation from governmental entities, private companies, and international and local defense firms.In his speech at the meeting, Al-Ohali emphasized that this milestone reflects the kingdom's commitment to developing its defense industries for strategic, developmental, and economic benefits.
He expressed gratitude to King Salman bin Abdulaziz Al Saud and Crown Prince Mohammed bin Salman for their support in achieving this objective through GAMI's strategies.GAMI has introduced a comprehensive set of enablers, including policies, legislation, incentives, and infrastructure investments aimed at attracting investment and fostering sector growth.
The authority is also working closely with government partners to create a favorable business environment.Mohammed bin Saleh Al-Adhl, Deputy Governor for Localization at GAMI, underscored that the achievement represents not just a statistical target but a national endeavor demonstrating Saudi Arabia's resolve to build self-reliant defense industries capable of meeting domestic needs.
He highlighted the rigorous measures taken to ensure the accuracy of localization rate measurements through auditing contracts, reviewing budgets, and verifying figures with external auditors.Various entities were honored during the event for their contributions to military industries localization.
These included government ministries such as the Ministry of Defense, the Ministry of Interior, and the National Guard, as well as several private defense companies recognized for excellence in implementation and planning.Faleh bin Abdullah Al-Sulaiman, Governor of the General Authority for Defense Development, stressed that research and innovation are essential to advancing the military industries sector.
He pointed out their role in transforming Saudi Arabia from a consumption-driven economy to one focused on manufacturing and growth.Salman bin Nasser Al-Shathri, Chairman of the National Committee for Military Industries at the Federation of Saudi Chambers, lauded the partnership between his committee and GAMI.
This collaboration has facilitated workshops and coordination meetings aimed at exploring development opportunities, reviewing regulatory frameworks, sharing success stories, and fostering exchange between the public and private sectors.The meeting concluded with the recognition of graduates from GAMI's scholarship and secondment program, designed to empower national talent in the military industries sector by developing skilled Saudi professionals.
Attendees included high-ranking officials, industry heads, and investors in the military sector.Following the event, Al-Ohali revealed that GAMI is currently working on an updated version of the national strategy for military industries, with a targeted completion date set for 2025 to keep pace with sector developments and support Vision 2030 goals.
This development marks a major step toward achieving the national goal of exceeding 50 percent localization by 2030.The announcement was made during the inaugural annual meeting dedicated to the military industries sector, organized under the patronage of GAMI's Governor Ahmed bin Abdulaziz Al-Ohali in Riyadh.
The event saw wide participation from governmental entities, private companies, and international and local defense firms.In his speech at the meeting, Al-Ohali emphasized that this milestone reflects the kingdom's commitment to developing its defense industries for strategic, developmental, and economic benefits.
He expressed gratitude to King Salman bin Abdulaziz Al Saud and Crown Prince Mohammed bin Salman for their support in achieving this objective through GAMI's strategies.GAMI has introduced a comprehensive set of enablers, including policies, legislation, incentives, and infrastructure investments aimed at attracting investment and fostering sector growth.
The authority is also working closely with government partners to create a favorable business environment.Mohammed bin Saleh Al-Adhl, Deputy Governor for Localization at GAMI, underscored that the achievement represents not just a statistical target but a national endeavor demonstrating Saudi Arabia's resolve to build self-reliant defense industries capable of meeting domestic needs.
He highlighted the rigorous measures taken to ensure the accuracy of localization rate measurements through auditing contracts, reviewing budgets, and verifying figures with external auditors.Various entities were honored during the event for their contributions to military industries localization.
These included government ministries such as the Ministry of Defense, the Ministry of Interior, and the National Guard, as well as several private defense companies recognized for excellence in implementation and planning.Faleh bin Abdullah Al-Sulaiman, Governor of the General Authority for Defense Development, stressed that research and innovation are essential to advancing the military industries sector.
He pointed out their role in transforming Saudi Arabia from a consumption-driven economy to one focused on manufacturing and growth.Salman bin Nasser Al-Shathri, Chairman of the National Committee for Military Industries at the Federation of Saudi Chambers, lauded the partnership between his committee and GAMI.
This collaboration has facilitated workshops and coordination meetings aimed at exploring development opportunities, reviewing regulatory frameworks, sharing success stories, and fostering exchange between the public and private sectors.The meeting concluded with the recognition of graduates from GAMI's scholarship and secondment program, designed to empower national talent in the military industries sector by developing skilled Saudi professionals.
Attendees included high-ranking officials, industry heads, and investors in the military sector.Following the event, Al-Ohali revealed that GAMI is currently working on an updated version of the national strategy for military industries, with a targeted completion date set for 2025 to keep pace with sector developments and support Vision 2030 goals.
