Saudi Gazette report

RIYADH — The General Authority for Military Industries (GAMI) General Authority for Competition (GAC) have signed a Memorandum of Understanding to enhance the growth of localization in military industries.

The MoU was signed with the aim of supporting the governance of economic concentration and merger operations between licensed and related companies in the military industries sector by unifying joint efforts and complementary work between the two parties.

This is for the sake of growing localization of military industries and enhancing awareness of the culture of fair competition among establishments operating in the sector.

The MoU aims to enable fair competition in the military industries sector between companies operating and associated with them in the same field.

Therefore, it will increase the attractiveness of the investment environment in the sector and achieve the maximum benefit from its promising opportunities.

The MoU was signed on Monday by Governor of GAMI Eng. Ahmed Bin Abdulaziz Al-Ohali, and the CEO of GAC Dr. Abdulaziz Bin Abdullah Al-Zoom.