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Israeli Prime Minister Benjamin Netanyahu said that Israel will invest 350 billion shekels (about 110 billion US dollars) over the next decade to build an independent domestic arms industry.
"A few weeks ago I approved a total of 350 billion shekels over the next decade to build an independent arms industry for the State of Israel," Netanyahu said at a graduation ceremony for Air Force pilots at Hatzerim Air Base in southern Israel.
He added that the move is part of Israel's efforts to reduce its dependence on external arms suppliers, including allies. Netanyahu stressed that the weapons systems "will guarantee Israel's advantage on the battlefield in the future."
The announcement comes as Israel continues to fight on multiple fronts in the Middle East. During Israel's two-year military offensive in Gaza, several countries (including allies such as Germany, Britain, Spain and the Netherlands) have imposed restrictions or reviews on arms exports to Israel due to concerns about violations of international law.
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