Saudi Arabia will spend 32 billion dollars to gain military independence Atalayar

US-Saudi relations are at their worst, as Riyadh’s rapprochement with Russia undermines Washington’s oil-for-defense principle and raises questions about arms deals and America’s military presence in the kingdom.

The reason for this was the last meeting of OPEC+, which, under the leadership of the Arab country, decided to reduce oil production in accordance with the wishes of Russia, and thereby contradicted the request of US President Joe Biden during his visit to the kingdom. July is in the midst of a global energy crisis caused by the war in Ukraine.

Ahmed Al-Ohali, governor of the General Directorate of Military Industry, said in a statement titled “Localization of Industry in the Kingdom” that Saudi Arabia is moving forward with its plan to localize 50% of military spending by 2030. Local media said that the number of facilities operating in Al-Ohali military industry and service sector has increased from 5 facilities when the authority was created to 187 facilities today. “Today we are talking about 315 establishment permits and licenses by the end of September.”

AFP/FAEZ NURELDINE – Turki al-Malki, spokesman for the coalition forces in Yemen led by Saudi Arabia

Crown Prince and Prime Minister of Saudi Arabia Mohammed bin Salman considers the localization of the defense industry one of his priorities at the current stage. Prince bin Salman believes that there is no question of full independence without a commitment to building a strong domestic industry.

The governor of the General Administration of Military Industry (AGIM) noted that “Military industries are an extension and complement of the Kingdom’s other industries, and the national industrial strategy will make a significant contribution to the success and localization of military industries.” According to AGIM Governor Ahmed Al-Ohali, AGIM has identified 30 key investment opportunities to be offered to the private sector over the next eight years, covering 80% of Saudi Arabia’s needs at a cost of more than SAR 120 billion. Al-Ohali.

Prince Bin Salaman recently launched the National Industrial Strategy, which identifies more than 800 investment opportunities worth one trillion Saudi riyals.

The strategy aims to increase the contribution of the industrial sector to GDP to 895 billion riyals and increase the value of industrial exports to 557 billion riyals, achieve a 350% increase in industrial investment opportunities and double the number of factories in the Kingdom. It increased more than 3 times and reached 36,000 factories.

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AP/MARIMAN EL MOFTY – A Yemeni fighter belonging to the Saudi-led coalition during a clash with Houthi rebels on the Kassara front,

Al-Ohali announced this in his previous statements “The localization percentage of the military industry, including military equipment and services, increased from 2% when the authority was established in August 2017 to 11.7% at the end of last year.”

The authority is in the process of completing a streamlined study to present these investment opportunities to the private sector, Al-Ohali said at a workshop on the launch of the national industrial strategy on October 23. He also pointed out that Saudi Arabia will manage to localize 50% of its military expenditures by 2030.

Military industries are an extension and integration of the kingdom’s other industries. The national industrial strategy will significantly contribute to the success and localization of the military industry. According to the CEO, it will also support the military industrial strategy launched nearly two and a half years ago and create an attractive investment environment for those operating in the military industry.

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