Saudi Arabia will increase military budget by 50%.
The head of the Saudi Military Industries Organization, while emphasizing Riyadh’s efforts for self-sufficiency in the defense industry, announced a 50 percent increase in its military spending by 2030.
Ahmed al-Awhali, head of the Saudi Military Industries Organization, announced yesterday (Saturday) that Riyadh will work with its regional and global partners to achieve self-sufficiency in the defense industry.
According to the Anatolia news agency, Saudi Arabia held a one-day conference entitled “Riyadh for Defense” with more than 300 government and military figures from around the world to expand coordination and continue talks on the defense industry.
“Saudi Arabia will continue to nationalize its military and security industries, and by 2030, it will pay for its military equipment and services,” said the head of the Saudi Military Industries Organization at the conference, which was held on the eve of the first World Military Defense Exhibition. Will increase by 50%.
“Mohammad bin Salman, the Crown Prince of Saudi Arabia, has explicitly stated that no arms deal can take place without [access to] national scientific content,” al-Awhali said, noting that some other countries in the region are seeking progress in strengthening their defense industries. “And we are working on that.”
The head of the Saudi Military Industries Organization concluded: “We work extensively with all our partners in the region and the world to develop and implement our programs in the defense industry to achieve self-sufficiency.”
The conference, organized by the International Center for Strategic Studies (IISS) in Riyadh, had two sessions on its agenda. The first session was entitled “Regional Defense Policy and the Global Economy” and the second session was entitled “International Defense Horizons”.
Meanwhile, Saudi Arabia will host the “World Military Defense Exhibition” from the sixth to the ninth of this month (March); An exhibition that will be held every two years. The Saudi media expects that the exhibition will have 30,000 visitors during these four days.
