The second edition of the Local Content Forum, organized by the Local Content and Government Procurement Authority under the theme "Partnerships for Sustainable Development," achieved major milestones with the signing of 19 strategic agreements and the launch of 5 specialized programs aimed at strengthening local content in the Kingdom, with wide participation from government entities, private-sector companies and international investors.

Major Agreements and Strategic Programs to Boost Local Content

Launch of 5 Specialized Programs

During the forum's second day, five strategic programs were unveiled:

  1. The "Ghars" program from Sudair Pharma, to support local pharmaceutical manufacturing.
  2. The "Sunna'" program from SPIMACO, to boost productivity in the health sector.
  3. The "Rakza" program from the Saudi Company for Comprehensive Technical and Security Control.
  4. The "LEAD" program from Huawei, to support technical development.
  5. The "Sharakat" program from the Saudi Water Partnership Company, to strengthen integration between the public and private sectors.

19 Strategic Agreements

The authority signed 10 agreements to localize strategic industries such as manufacturing advanced medical and technical products, with a total contribution to GDP exceeding SAR 1.6 billion. Highlights included:

  • Localizing wound-dressing manufacturing with the companies "Nahara" and "Argentum."
  • Manufacturing oxygen sensors with Masimo.
  • Developing biopharmaceuticals in cooperation with companies including Sudair Pharma and international partners.

Nine economic agreements worth more than SAR 950 million were also signed with global companies such as Health Insights, Merck and Biogen, covering the establishment of regional headquarters in the Kingdom, localizing health services, and conducting clinical trials for multiple diseases.

Government Partnerships

  • A strategic agreement was signed with the Ministry of Transport and Logistics Services to boost local content across multiple transport sectors.
  • A partnership with the Royal Commission for Riyadh City to embed local content in major projects.

Inspiring Panels and Specialized Workshops

The forum held 5 panel discussions examining the role of government-corporate cooperation in boosting local content, as well as the impact of digitalization in accelerating local economic growth. Twenty-one workshops were also held, covering investment opportunities, economic participation policies, and mechanisms for implementing mandatory lists for national products.

A Strategic Contribution to the National Economy

Minister of Industry Bandar bin Ibrahim Al-Khorayef said the forum represents a strategic platform for driving innovation and local economic development, noting that spending by state-owned companies on local content reached SAR 144 billion in 2023, reflecting the Kingdom's commitment to Vision 2030's goals of economic diversification and job creation.