factors for development of military industry identified
Last Updated : GMT 06:49:16
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Last Updated : GMT 06:49:16
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Factors for development of military industry identified

Arab Today, arab today

Arab Today, arab today Factors for development of military industry identified

Intensive training overseas of Saudi technicians and engineers to run the military industry is a prerequisite.
Riyadh - Arab Today

A report in War on the Rocks, an Internet portal, has identified four factors for establishing a Saudi military industry independent of government support.
These factors are the need for an independent budget, the need for Saudi technicians and engineers to be sent abroad for training and acquiring expertise, establishing ancillary industries to help the main industry and providing the necessary required environment.
The report says the new military industry’s budget shouldn’t be linked to future fluctuations of military and any other projects related to the oil industry.
The report said statements by Deputy Crown Prince Mohammad bin Salman said the industry has to increase between 30 percent and 50 percent by 2030, whereas today it is 2 percent. It suggested the industry will also come about through economic reform currently being pursued, which needs to be less dependent on oil revenues.
The Kingdom, at present, is planning to establish a company to oversee the military industrialization under Vision2030.
Saudi Arabia occupies the third position in the world in terms of military expenditure, according to AlMadina daily.

 

Source : Arab News

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factors for development of military industry identified factors for development of military industry identified

 



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