A package of incentives launched within the “Made in Saudi” program will enable national enterprises to grow their businesses, benefit from marketing opportunities and joint cooperation, and participate in related activities and events.
The new package are in line with the Kingdom’s Vision 2030’s National Industrial Development and Logistics Vision Realization Program, said Bandar Al-Khorayef, the Saudi Minister of Industry and Mineral Resources.
The program aims to support member companies in promoting their products domestically and globally.
In this context, “Made in Saudi” partners will benefit from informational and instructional courses to join the Authorized Economic Operator (AEO) program - offered by the General Authority of Customs - to access benefits and facilities for customs operations in the Kingdom, the United Arab Emirates and Bahrain, reduce costs and speed up clearance at ports, which will allow the exporters to facilitate export process and raise the percentage of the Kingdom’s non-oil exports.
Saudi Arabia’s Local Content and Governmental Procurement Authority will provide the program partners with a distinctive service for listing national companies for government procurement contracts, as the authority aims to develop Saudi content capable of meeting demand and achieving economic impact.
During the launching event of “Made in Saudi” earlier this week, Al-Khorayef stressed that the program was aimed at enhancing the “culture of loyalty to the national product” and was designed based on a study of experiences of a number of countries that have achieved qualitative successes in developing their industrial capabilities and reached self-sufficiency at various levels.
“Creating an industrial identity was an ambitious national project, in which a number of governmental and private agencies joined forces, so that this identity would be one of the main pillars that would transform the Kingdom into a pioneering industrial power, under the directives of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman,” the minister underlined.
