RIYADH — Saudi Arabia aims to be an exporter of military products and technologies to other countries, Minister of Investment Khalid Al-Falih said on Sunday.

Speaking during a panel discussion on the sidelines of the General Authority for Military Industries’ (GAMI) launch of the human capital strategy in the local military industries sector, Al-Falih said that the competitiveness of human resources in the Kingdom is a key element.

“The localization rate in the military industries sector is promising and rising,” Al-Falih said.

“It is up from 2 percent since the launching of GAMI to over 10 percent now,” he added.

The Kingdom targets a localization rate of 50 percent in the next eight years, which is a great challenge and a big opportunity at the same time, Al-Falih concluded. — SG