Overview
With one of the world’s highest military expenditures, Saudi Arabia is shaking up its defense and security sector in order to localize over 50% of its military expenditure by 2030. The industry has witnessed noticeable changes over the recent years in Saudi, with major business climate reforms, including the establishment of General Authority of Military industries (GAMI) as the regulatory body, easy online licensing process, and allowing 100% foreign ownership for companies operating in the sector.
Overview
With one of the world’s highest military expenditures, Saudi Arabia is shaking up its defense and security sector in order to localize over 50% of its military expenditure by 2030. The industry has witnessed noticeable changes over the recent years in Saudi, with major business climate reforms, including the establishment of General Authority of Military industries (GAMI) as the regulatory body, easy online licensing process, and allowing 100% foreign ownership for companies operating in the sector.
The Kingdom’s localization goal means billions of dollars worth of investment opportunities for both local and international investors, including global original equipment manufacturers (OEMs) and small- and medium-sized enterprises (SMEs).
50 - %
localization target by 2030, up from 8% in 2020
6 - th
largest military spender around the world in 2020
100 - %
foreign ownership allowed
contact our Expert
Thank you for your interest in the Invest Saudi.
We received your inquiry, and we will get back to you shortly.
