The growth rate of local content in Saudi Arabia has now reached 43 percent, a top PIF official noted at the Private Sector Forum in Riyadh yesterday, noting that overall spending on content has increased by 20 percent.
The comments wer made by Abdulrahman Al-Samari, CEO of the Local Content and Government Procurement Authority, on a panel on day 2 of the event. The dialogue session was titled “Supporting local content to empower the private sector.” Those who addressed the session also included Ma’aden CEO Robert Wilt, Managing Director of Cisco Salman Faqeeh, and Director of the National Development Division at the Public Investment Fund Jerry
This is in addition to activating signed agreements to serve companies operating in the Kingdom, he said.
Speakers at the session explained that local content is linked to the Kingdom’s Vision 2030, and spending on content has increased by 20 percent. They stressed that 30 percent out of 70 companies have completed setting their local policy to achieve the desired goals, in addition to developing workers’ skills and training through programs targeting the private sector to support the local economy, in light of the interaction and contribution of Saudi women in the local economy.
