Saudi Gazette report

RIYADH — Saudi Arabia’s General Authority for Military Industries said that it has granted licenses to 18 new companies to engage in the military industries sector in the Kingdom, Saudi Press Agency reported.

The companies were able to obtain their licenses through e-portal developed by the Authority without the need to visit the headquarters.

The move is in line with the preventive and precautionary measures to curb the spread of coronavirus in the Kingdom as well as to enable local manufacturers to participate in the promising sector.

The Authority has so far granted licenses to 38 national companies operating in the field of military industries with an expected investment volume of SR9.5 billion.

Involving national firms in the sector is part of the Authority’s strategy to localize more than 50 percent of the Kingdom’s spending on military equipment and services.

To achieve its goal, the Authority has developed a special platform to receive requests for issuing licenses in the areas of military manufacturing, military service provision, and supply of military products or services, which will enable local manufacturers to develop military industries, research, and security technology in the Kingdom.