Saudi Arabia's Local Content and Government Procurement Authority (LCGPA) has revealed its commitment to implement a set of projects in cooperation with some government agencies, worth up to SAR9 billion ($2.4 billion).
This comes in line with the strategy it will implement in the coming period, as well as initiatives to promote public-private sector partnerships.
LCGPA’s chairman of the board of directors Dr. Ghassan al-Shebl stated that the authority has been able to achieve rapid gains for local content during this period through several projects in cooperation with government agencies.
He stressed the importance of the opportunities available in the private sector through local content, especially through the preference mechanisms established by the authority.
Shebl pointed to these mechanisms’ role in developing local supply chains for various sectors, through achieving complementarity and interconnection among national companies that win government tenders.
President of al-Shorouk Center for Economic Studies Dr. Abdulrahman Baashen, for his part, stressed in remarks to Asharq Al-Awsat the necessity of building a unified base to enhance the availability of local content for Saudi companies.
He also highlighted the need to adopt a strategy that enables local content to support the growth of national companies and make them compete globally.
Baashen pointed to the authority’s positive sustainable partnerships with major national companies to contribute to the development of local content in various sectors.
