Local content will drive Saudi growth, AmCham forum told

Saudi Arabia’s “Road to Localization” was the focus of an American Chamber of Commerce Jeddah Chapter event featuring industry experts and representatives of leading corporations. (Supplied)

• The panel discussion revolved around the industrial transformation taking place in the Kingdom as part of Vision 2030 reforms
• Forrest Young, president of AmChamKSA Jeddah Chapter, welcomed representatives from Zahid Industries, Johnson Controls Arabia, SAWACO, and MARS Arabia

JEDDAH: Saudi Arabia’s “Road to Localization” was the focus of an American Chamber of Commerce Jeddah Chapter event featuring industry experts and representatives of leading corporations.
The panel discussion revolved around the industrial transformation taking place in the Kingdom as part of Vision 2030 reforms.
Forrest Young, president of AmChamKSA Jeddah Chapter, welcomed representatives from Zahid Industries, Johnson Controls Arabia, SAWACO, and MARS Arabia.
“As a G20 member and the 18th-largest economy globally, Saudi Arabia is experiencing a significant industrial metamorphosis, with localization being one of the primary pillars of the Kingdom’s ambitious vision,” he said.
“It has spurred numerous initiatives to increase domestic value creation, adapt to a rapidly evolving economic landscape, foster future prosperity, and generate sustainable job opportunities for the nation’s growing workforce.”
Nizar Kammourie, CEO of SAWACO, said: “As part of our project Rabigh 3 IWP, we are proud to contribute to the local content effort in Saudi Arabia where the production and procurement of goods and services support the country’s economic growth and development.”
“We are also committed to supporting local content policy by sourcing goods and services from local suppliers wherever possible. We believe that this not only benefits the local economy but also helps to build strong partnerships with local businesses.”
Kammourie said that the Local Content and Government Procurement Authority is playing a vital role in evaluating the level of local content in various sectors.
“As a responsible project company, we are fully supportive of the LCGPA’s efforts, and are always looking for ways to increase the participation of local businesses and manufacturing in our projects.”
Mohanad Al-Shaikh, Johnson Controls CEO, outlined an initiative aligned with the National Industrial Strategy announced recently by the Ministry of Industrial Affairs.
“Through this initiative, we are ensuring Saudi students before they graduate from high school get familiar with the manufacturing process and be a part of the ecosystem. In collaboration with the Ministry of Education, Ministry of Industrial Affairs and Jeddah Chamber of Commerce through the industrial council, around 3,000 students will be assigned to visit the York factory,” he said.
Zeina Alnouri, Jeddah Chapter coordinator, said that the AmCham Saudi Arabia event brought together key industry leaders “and allowed attendees to gain a deeper understanding of localization and embrace it.”