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HOUSE_OVERSIGHT_023650

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create jobs and create development. However, what distinguish this matter is that the decision is 100% totally owned by the government. The government today has made a decision requiring that any industry should be linked to local content (i.e. | will not buy from you unless you tell me how much you give me local content). There are types of industries, low-sensitive technology industries and in this case other countries do not have the embarrassment of being transferred to you 100% inside Saudi Arabia, such as light weapons or ammunitions or what can be included under it or spare parts or structures, etc. And there are a medium-sensitive technology industries, some countries have a certain sensitivity, we try to get out of the deal a certain percentage for the local content, and sometimes we manage to reach 70% of the local content, sometimes 50%, and sometimes 20%. There are also complex industries that countries refuse to transfer technology to Saudi Arabia. Here, we stipulate that the main materials are through Saudi Arabia, which has an indirect impact on the local content inside Saudi Arabia, but the condition in the competent authorities in Saudi Arabia today is that no weapon deal without local content targeting 100 % of industry transfer. If we do not succeed we must end up in 2030 with 50% local content. This means that from 50% (S 70 billion) will be spent inside Saudi Arabia in 2030 and will gradually increase. His Highness has pointed out that today there is a range of armament deals will be announced in the coming period. In each deal, we will know how much the local content is, and how many job opportunities will be provided by it. Arming is the largest item in the local content. The second item is the automotive industry, where car purchases by the Saudis are almost $ 30 billion a year, sometimes higher than and sometimes less than. The positive element is that $ 13 billion of these purchases are purchases for the Saudi government and we can start wi

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