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Saudi Arabia eyes defence partnership with UAE

Saudi Arabia eyes defence partnership with UAE
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Saudi Arabia eyes defence partnership with UAE

Saudi Arabia eyes defence partnership with UAE
File photo/idexuae
Saudi Arabia is starting a new military industry and aims to spend 50 per cent of the military budget locally by 2030.
Saudi Arabia plans to invest $20 billion in the military industry over the next decade and is looking at collaborations with the UAE and other allies, a top official from the Kingdom said in Abu Dhabi.
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. I think it requires a lot of collaborations in terms of research and development. We have issued 114 licences for 70 companies in Saudi Arabia, about a 20 per cent of them are foreign joint ventures or full ownership by the foreign companies, said Ahmad bin Abdulaziz Al Ohali, Governor of the General Authority for Military Industries - Saudi Arabia, during the International Defence Conference on ....

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