War Rumours Threats: Saudi Arabia, One of the World’s Biggest Arms Importers, Launches Its Own Defense Industry. Saudi Arabia is among the top 5 defence spenders in the world. 50% of defence equipment to made locally.What do we know about the number Five (5)?

Saudi Arabia will now license companies to manufacture firearms, ammunition, military explosives, military equipment, individual military equipment, and military electronics

Reuters   Sep 08, 2019 

Saudi Arabia said on Sunday it had begun accepting license applications for firms in the military industrial sector, a major target under plans to diversify the kingdom’s economy away from oil exports.

The General Authority for Military Industries (GAMI) will license companies to manufacture firearms, ammunition, military explosives, military equipment, individual military equipment, and military electronics, state news agency SPA reported.

GAMI Governor Ahmed al-Ohali said the move would open the door for foreign and local investment in the sector.

Investment is needed to meet reforms announced by Crown Prince Mohammed bin Salman who wants Riyadh to produce or assemble 50% its defence equipment locally in order to create 40,000 jobs for Saudis by 2030.

Saudi Arabia is among the top 5 defence spenders in the world.