Riyadh, SPA: The General Authority for Military Industries (GAMI) and the General Authority for Competition (GAC) signed today a memorandum of understanding (MoU) to support the governance of economic concentration and merger operations between licensed and related companies in the military industries sector. Under the MoU, the two authorities will work together to ensure the growth of the localization of military industries and enhance awareness of the culture of fair competition at establishments operating in the sector. The MoU was co-signed by the GAMI Governor, Engineer Ahmed bin Abdulaziz Al-Ohali, and the GAC Chairman, Dr. Abdulaziz bin Abdullah Al-Zoom. The memorandum aims to enable fair competition in the military industries sector between companies operating and associated with them in the same field. This will increase the attractiveness of the investment environment in the sector and achieve the maximum benefit from its promising opportunities.
Last Modified Date: 14/11/2023 - 8:22 AM Saudi Arabia Time
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