Vision 2030
He explained during his participation in a ministerial session titled “Future Trends in Local Content in Light of Vision 2030,” held as part of the activities of the 2024 Local Content Forum, that local content is one of the main economic pillars for achieving Saudi Arabia’s Vision 2030. This is due to the fact that the development of local content in its various elements directly impacts the implementation programs of the Vision.
Al-Khorayef highlighted that the mandatory list of national products is one of the tools designed to direct government spending towards local products. He also emphasized the pivotal role of the Ministry of Industry in expanding the industrial base and enabling factories to increase the proportion of high-quality national products included in the mandatory list.
Local Content, Government Procurement Authority
He emphasized the private sector’s key role in developing local content, noting that the Local Content and Government Procurement Authority focuses on two main tracks: strategic partnerships and the Local Content Coordination Council. This council, made up of members from major national companies, works with the authority to boost local content in operations.
It is worth noting that the second edition of the Local Content Forum builds on the success of the first edition, opening opportunities for the exchange of knowledge. Finally, this raise awareness of enablers, mechanisms, and policies related to local content, and showcasing its pivotal role in achieving Saudi Arabia’s Vision 2030.
Related Topics :
AlUla Citrus Festival Helps Promote Local Products
Craftsmanship Products Showcase Saudi Heritage to Red Sea Tourists
Saudi EXIM Raises Non-oil Products Globally
