GAMI Grants Licenses to 38 National Firms With Expected Investment Volume of SAR 9.5 Billion [17 June 2020]

GAMI announced that it has granted licenses to 38 national firms operating in the Sector with an expected investment volume of SAR 9.5 Billion. The firms were able to obtain the licenses through the electronic portal developed by the Authority without the need to visit the Headquarters.
The move is in line with the preventive and precautionary measures curbing the spread of COVID-19 in the Kingdom and enabling the participation of local manufacturers in this promising sector.

As the Authority’s strategy aims to localize more than 50% of the Kingdom’s expenditure on military equipment and services, the Authority has created a special portal to receive requests for issuance of military industrial licenses. There are 3 main types of licenses: military manufacturing, military services, and trade of military products or services. These licenses will enable local manufacturers and develop military industries, research, and security technology in the Kingdom.

Military Industry Sector Deputy Governor Gasem al-Maimani stated that the Authority is keen to enable and support companies operating and investing in this Sector despite the challenges faced by the Kingdom due to COVID-19, indicating that the Authority was able to grant licenses to 18 new firms for a total of 38 national firms engaged in the Sector.

It should also be noted that the 18 new firms are specialized in plating of various military equipment, manufacturing of shelters, simulators and military night vision goggle-binoculars, manufacturing of spare parts for all military equipment and gearboxes, MRO of military vehicles and shelters, and programming sensors for drones using the latest specialized military programs as well as other projects.