Saudi to invest over $20 billion in military industry

Saudi Arabia will invest over $20 billion in its domestic military industry over the next decade as part of aggressive plans to boost local military spending, the head of the military industry regulator said.

Saudi plans to develop and manufacture more weapons and military systems domestically, aiming to spend 50% of the military budget locally by 2030.

Governor of the General Authority for Military Industries, Ahmed bin Abdulaziz Al-Ohali, said that Saudi also plans to increase military research and development, spending from 0.2% to 4% of armaments expenditure by 2030.

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