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21-02-23
GAMI introduces Saudi pavilion at IDEX 2023, seeks growth
(MENAFN) Saudi Arabia’s General Authority for Military Industries has started the nation’s pavilion at the 16th edition of the International Defense Exhibition in the UAE capital, Abu Dhabi.
Inducted by the GAMI Gov. Ahmad Al-Ohali, the pavilion is expected to additionally surge and rise outreach following what was a dynamic 2022 for the firm, as mentioned in an announcement.
On the first day of the event, the defense official, enabler, as well as licensor pinpointed and shed light on several investment chances and prospects valued at billions of dollars in an effort to incentivize and additionally motivated financers from across the whole world.
This comes as the nation is targeting for localizing 50 percent of the defense expenditure within the end of this decade.
“We have achieved a localization rate of 11.7 percent in 2022, up from just 2 percent in 2018,” Al-Ohali stated.
“Strategic partnerships with global investors have been a key component of this success, and IDEX 2023 is a great opportunity for us to meet industry leaders who are keen to join us along our journey of localizing more than 50 percent of our defense expenditure by the year 2030,” the governor continued.
MENAFN21022023000045014228ID1105606723
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