In a statement the head of Saudi Arabia’s military industry regulator stated, the Kingdom plans on investing more than $20 billion in its domestic military industry over the course of the next decade as part of an aggressive military spending plan.

Saudi Arabia wants to develop and manufacture more weapons and military systems domestically, and aims to source 50% of its military budget from local players, by 2030.

“The government has put a plan that we will be investing in excess of $10 billion in the military industry in Saudi Arabia over the next decade and equal amounts on research and development,” said Ahmed bin Abdulaziz Al-Ohali, the Governor of the General Authority for Military Industries (GAMI) in a defence conference in Abu Dhabi.

He went on to add, the kingdom plans on increasing military research and development (R&D) spending from 0.2% to around 4% of armaments expenditure by 2030.

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