Saudi GAMI Announces 10 Investment Opportunities in Defense Sector

Hawk T1A trainer aircraft of the Saudi Falcons aerobatic team perform during an air show marking Saudi Arabia's 93rd National Day celebrations in Riyadh on September 23, 2023. (AFP)
Hawk T1A trainer aircraft of the Saudi Falcons aerobatic team perform during an air show marking Saudi Arabia's 93rd National Day celebrations in Riyadh on September 23, 2023. (AFP)
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Saudi GAMI Announces 10 Investment Opportunities in Defense Sector

Hawk T1A trainer aircraft of the Saudi Falcons aerobatic team perform during an air show marking Saudi Arabia's 93rd National Day celebrations in Riyadh on September 23, 2023. (AFP)
Hawk T1A trainer aircraft of the Saudi Falcons aerobatic team perform during an air show marking Saudi Arabia's 93rd National Day celebrations in Riyadh on September 23, 2023. (AFP)

The Saudi General Authority for Military Industries (GAMI) announced on Monday ten investment opportunities with joint military and civilian uses as a first stage.

The new investments are part of the direct outcome of the Military Industries Enabler initiative, launched by the Authority earlier this year.

It underscores Saudi Arabia’s commitment to enhancing its military capabilities, diversifying its economy, and providing attractive investment opportunities.

The investment portfolio is designed to cater to various stakeholders in the defense sector, including manufacturers and service providers. It also extends an invitation to supporting industries that can enhance the nation’s strategic military readiness.

The opportunities available through the Authority’s official website and the “Invest in Saudi Arabia” platform aim to provide attractive opportunities for investors and those interested in establishments operating in the sector, including manufacturers and service providers.

GAMI Governor Ahmed al-Ohali appreciated the efforts of Minister of Investment Khaled al-Falih for the support provided by the Ministry in enabling local and international investors.

He highlighted the crucial role of the Ministry of Investment in facilitating access to sector opportunities for local and international investors through the Invest in Saudi Arabia platform.

The Authority urged investors and those interested to visit its website and communicate with the work team to answer any inquiries, explain these opportunities in more depth, and enable access via the designated e-mail.



UAE, Serbia Sign Comprehensive Economic Partnership Agreement

UAE President Sheikh Mohamed bin Zayed Al Nahyan and Serbian President Aleksandar Vučić. WAM
UAE President Sheikh Mohamed bin Zayed Al Nahyan and Serbian President Aleksandar Vučić. WAM
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UAE, Serbia Sign Comprehensive Economic Partnership Agreement

UAE President Sheikh Mohamed bin Zayed Al Nahyan and Serbian President Aleksandar Vučić. WAM
UAE President Sheikh Mohamed bin Zayed Al Nahyan and Serbian President Aleksandar Vučić. WAM

UAE President Sheikh Mohamed bin Zayed Al Nahyan and Serbian President Aleksandar Vučić have witnessed the exchange of a Comprehensive Economic Partnership Agreement (CEPA), paving the way for increased trade and investment flows and bilateral private sector collaboration.

Sheikh Mohamed commended the exchange of the CEPA as a key milestone in the relations between the UAE and Serbia.

“The CEPA exchange with Serbia is a notable step forward in our efforts to create a network of trade agreements that will accelerate investment, promote knowledge-sharing, and create opportunities for joint ventures in high-growth sectors,” he said.

“Serbia represents an important addition to the CEPA program and a bridge into the high-potential region of Eastern Europe. The UAE-Serbia CEPA reflects our shared ambition to establish a new era of collaboration between our nations and unlock long-term, sustainable growth for both our economies.”

The Serbian President expressed confidence that the agreement would pave the way for new opportunities in economic cooperation and diversification, fostering sustainable growth and prosperity for both nations.

Once implemented, the UAE-Serbia CEPA is expected to remove or reduce duties on product lines, lift unnecessary barriers to trade, protect intellectual property rights, support small and medium-sized companies, and facilitate mutual investment flows.

The UAE is the third-largest market for Serbian exports in the Middle East, and increased FDI has been directed toward high-priority sectors, including renewable energy, agriculture, food security, infrastructure, and logistics.