Saudi Arabia is making significant strides in strengthening its military capabilities, with plans to increase its defense budget to $78 billion by 2030. This move is part of Crown Prince Mohammed bin Salman’s Vision 2030 initiative, aimed at diversifying the country’s economy and reducing dependence on oil revenues. The General Authority for Military Industries (GAMI) is playing a key role in this effort, focusing on developing a robust domestic defense industry and attracting both foreign and domestic investments.
GAMI’s initiatives include creating 74 supply chain opportunities in the military industry and supporting small and medium-sized enterprises (SMEs) specializing in defense technology. These efforts are aligned with Saudi Arabia’s strategic goal to maintain its dominance in the Middle East and enhance national security.
The increased military spending reflects Saudi Arabia’s response to the growing military power of regional rivals such as Turkey and Iran. By building a strong military-industrial base, Saudi Arabia aims to bolster its position in the region and contribute to economic growth, in line with Vision 2030’s objectives.
