Saudi Gazette Report

RIYADH — Saudi Minister of Investment Khalid Al-Falih said that local content is the flame that ignites the competitiveness of economic sectors. "There are 25 deals worth SR100 billion that are currently being worked out through the “Jasri” initiative," he said while addressing a ministerial session on future trends at the Local Content Forum in Riyadh on Wednesday.

He noted that "Jasri" initiative for value chains is one of the most important initiatives, launched by the Ministry of Investment. “We are cooperating with the Partner Program and the Incentives Committee on a large number of deals worth more than SR300 billion, including distinctive quality investments," Al-Falih said.

The minister pointed out that 3 car complexes have been launched and this is an opportunity to enhance the supply chains in the sector as a whole. He also referred to the initiatives of the Public Investment Fund (PIF) in the field of localizing Saudi industries, the latest of which was the launch of “Alat”.

The second edition of the Local Content Forum was launched on Wednesday under the slogan “Partnerships for Sustainable Development” in Riyadh, with the participation of many government agencies and the private sector.

The forum is one of the strategic initiatives of the Local Content and Government Procurement Authority, which seeks to create a platform to raise awareness, exchange experiences, and empower local capabilities by activating strategic partnerships and investment opportunities, and highlighting success stories to stimulate the public and private sectors.