According to a press release on Sunday, Saudi Arabia’s General Authority for Military Industries (GAMI), the regulator, enabler and licensor of the Kingdom’s military industries sector, has announced the targeted opportunities in Supply Chains in the Military Industries Sector in the kingdom aiming to enhance the Kingdom’s efforts to localize more than 50% of military spending by 2030.
GAMI’s thorough analysis of the local supply chain’s priorities, capabilities, and gaps has identified 74 investment opportunities, across six domains of the military industries sector. The opportunities are open to local and international companies in the industrial sector.
GAMI’s Governor, H.E. Ahmad Abdulaziz Al-Ohali, said the project is key to enhancing Saudi Arabia’s domestic capabilities and strengthening the collaboration between local and international suppliers, resulting in rapid progress toward meeting the localization goals set forth under Vision 2030.
“As GAMI, we have covered a lot of ground in a very short time in terms of localization. With the Supply Chains in the Military Industries Sector and targeted Opportunities our localization efforts will gather even more momentum and strengthen the military industries ecosystem to prove once again the Kingdom’s rolethe defense market ,” Al-Ohali said.
To enable investors to access localization opportunities, and learn about the industrial capabilities of investors in the sector, GAMI has launched the Military Industry Marketplace (MIM). The MIM is a platform that links the sector with all of the investors that are authorized, licensed (by GAMI), and registered on the platform. All local and international registered companies can easily identify localization opportunities provided by the sector once they have been published on the MIM.
Moreover, linking local companies with international companies, especially Original Equipment Manufacturers (OEMs), also becomes possible. This is due to the MIM being an electronic platform that is updated all the time and accessible via the link marketplace.gami.gov.sa.
“Our tireless efforts have shown themselves in numbers, as we have doubled the localization rate in the industry from 4% to 8% in just three years. We have also licensed 99 companies in less than two years to operate in the sector. . This enthusiasm and involvement by local companies is what makes us confident in the success of the Supply Chains in the Military Industries Sector and Targeted Opportunities,” said Governor Al-Ohali.