RIYADH: More than 850 companies have applied to join the ‘“Made in Saudi” program, the Saudi Press Agency reported.
Faisal Al-Bedah, the secretary-general of the Saudi Export Development Authority, on Wednesday addressed aspects of the program during a virtual meeting organized by the Industrial Committee in Riyadh Chamber.
He introduced the program, the benefits of joining it, and the companies qualified to benefit from its services.
Al-Bedah highlighted the program’s objectives, namely increasing domestic consumption and market share of domestic goods and services, increasing Saudi non-oil exports in priority export markets, and enhancing the attractiveness of the Saudi industrial sector for domestic and foreign investment.
He said the “Made in Saudi” program promoted national identity, boosted the contribution of the private sector to the economy, launched the capabilities of promising non-oil sectors by developing their exports, and enabled the creation of teams through small and medium-sized enterprises and micro-enterprises.
Companies who want to be part of the program can apply online, with an initial verification done through a dedicated website to check companies’ eligibility.
Products should be grown, extracted or produced in Saudi Arabia and fall under one of the listed industries: Construction, textiles, pharmaceuticals and medical, processed foods, or fresh produce.
“Made in Saudi” will play a role in achieving the Kingdom’s Vision 2030 reform plan by supporting Saudi products and directing purchasing power toward local products and services, leading to the private sector’s contribution to the gross domestic product (GDP) to 65 percent and raising the proportion of non-oil exports in the total non-oil GDP to about 50 percent by 2030.
Minister of Industry and Mineral Resources Bandar bin Ibrahim Al-Khorayef, who is also the authority’s chairman, launched the initiative under the patronage of Crown Prince Mohammed bin Salman.
“The program aims to help local businesses grow by encouraging local consumers to buy more locally made products and helping businesses to increase their exports to priority markets,” said Al-Khorayef. “Under one unified brand, the ‘Made in Saudi’ program will bring significant opportunities for businesses to expand their reach and promote their products domestically and globally.”