Fines for tampering with electricity meter range between SR5000 and SR100000 New amendments made in Electricity Law    Saudi Arabia deports 8,051 illegal residents in a week    Saudi Arabia is among world's top donors with assistance worth SR528 billion    GCC – Japan negotiations make progress in sealing free trade agreement    Inzaghi hails Al Hilal's fearless Club World Cup run    UNRWA calls for urgent fuel delivery to Gaza to prevent shutdown of basic services    Syria rules out foreign borrowing as central bank hails post-Assad recovery    Pakistan army kills 30 militants in cross-border clash near Afghanistan    State of emergency declared in Crete after wildfire devastates Ierapetra    OPEC+ further accelerates oil output hike by 548,000 bpd in August    Football world mourns Diogo Jota and brother André Silva at funeral in Portugal    Al Hilal exit Club World Cup after narrow defeat to Fluminense    Saudi Arabia tops global ICT Development Index for 2025    Hotel occupancy in Saudi Arabia rises to 63% as tourism workforce tops 983,000 in Q1 2025    Alkhorayef Commercial Company partners with XSQUARE Technologies to elevate logistics automation in Saudi Arabia    Portugal and Liverpool FC winger Diogo Jota dies in car accident in Spain    Michael Madsen, actor of 'Kill Bill' and 'Reservoir Dogs' fame, dead at 67    BTS are back: K-pop band confirm new album and tour    Michelin Guide launches in Saudi Arabia with phased rollout in 2025    'How fragile we are': Roskilde Festival tragedy remembered 25 years on    Sholay: Bollywood epic roars back to big screen after 50 years with new ending    Ministry launches online booking for slaughterhouses on eve of Eid Al-Adha    Shah Rukh Khan makes Met Gala debut in Sabyasachi    Pakistani star's Bollywood return excites fans and riles far right    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Saudi Arabia launches military industrial licensing program
Published in The Saudi Gazette on 08 - 09 - 2019

RIYADH — Saudi Arabia said on Sunday it had begun accepting license applications for firms in the military industrial sector, a major target under plans to diversify the Kingdom's economy away from oil exports,
The General Authority for Military Industries (GAMI) has developed a licensing mechanism, according to which it has specified three major kinds of licensing — military industries, providing military services, and supplying military products or services.
GAMI will license companies in each of the three major fields in the military industries in six subdivisions, that is, to manufacture firearms, ammunition, military explosives, military equipment, individual military equipment, and military electronics, state news agency SPA reported.
GAMI Governor Ahmed Bin Abdulaziz Al-Ohali said the move would open the door for foreign and local investment in the sector to facilitate their contribution to building the sector directly, achieving the goal of localizing 50 percent of the Kingdom's spending, and meeting the military industries sector needs. It will also be a major step towards organizing the sector.
GAMI is striving to transfer technology and take into consideration that local companies benefit from the manufacturing opportunities, in line with a mechanism that guarantees the growth of all companies in the military industries sector.
It also aims to promote the sector within the Kingdom and abroad, apart from training and classifying local industrialists, providing the infrastructure related to the sector and cooperating with the pertinent authorities.
The announcement to begin receiving licensing applications comes within the sphere of achieving GAMI's strategy to localize military industries, achieve the main national priorities in raising the level of military readiness, and enhancing joint operation between all the security and military authorities.
This is with the aim of developing a sustainable local military industries sector and raising the level of transparency and spending efficiency as well as opening the door for investment in them.
Investment is needed to meet reforms announced by Crown Prince Muhammad Bin Salman who wants Riyadh to produce or assemble half its defense equipment locally in order to create 40,000 jobs for Saudis by 2030.
Saudi Arabia is among the top five defense spenders in the world.
GAMI pointed out to all local authorities working in the sector and companies wishing to engage in one of the military industry activities, to obtain the appropriate licensing for their field of work.
The license will be issued after fulfilling the specified requirements for organizing the military industries activities in the Kingdom and the instructions for security, safety and protection from fires issued by the Higher Commission for Industrial Safety, GAMI stressed.
GAMI said it would grant the current authorities in the sector a one year grace period from today to rectify their status and obtain the required licenses to carry out their current activities.
Applications for licenses can be submitted via the GAMI e-portal for licenses on the official website licensing.gami.gov.sa.


Clic here to read the story from its source.