Saudi Minister of Industry and Mineral Resources Bandar AlKhorayef shared with Asharq Al-Awsat that there are direct incentives for investors in the country’s military industries.
These incentives cover loans, industrial purposes, local content in national products, pre-purchase contracts, and other support tools.
AlKhorayef emphasized the ministry’s collaboration with various entities and the General Authority for Military Industries (GAMI) to support the Kingdom’s growing military sector.
He revealed efforts to build a strong industrial base, focusing on key industries like iron, aluminum, advanced technologies, electronics, and advanced chemicals such as plastics.
The minister highlighted the joint efforts with the military system, creating opportunities for industries that serve both sectors. He confirmed the availability of specific incentives for military industries based on Saudi Arabia’s needs.
AlKhorayef also pointed out that the industrial system provides various incentives to empower investors, including financial support and other facilitative components.
