Saudi Arabia launched “Made in Saudi”, a new program that aims to support national products and services at local and international levels, under the patronage of Crown Prince Mohammed bin Salman bin Abdulaziz, Deputy Prime Minister and Minister of Defense.
The new initiative plays a major role in achieving Vision 2030 and stems from the Kingdom’s interest and keenness on supporting national products given their high quality and competitiveness at regional and international levels.
It also aims to raise awareness and confidence in local products and factories at all levels.
Industry and Mineral Resources Minister Bandar al-Khorayef said confidence in national products is necessary given their economic impact in stimulating local investments, attracting foreign investments, creating job opportunities, increasing export and expanding the state’s economic base.
Speaking at the virtual launch, the minister emphasized that the “Made in Saudi” program aims to promote the culture of “loyalty to the national product.”
The program was designed based on studies of other countries, which showed that giving priority to quality domestic products “contributed to localizing industries and achieving self-sufficiency,” the minister said.
Khorayef stressed that the Crown Prince has great aspirations for this program given its great importance in changing Saudi Arabia's stereotype as a country that relies heavily on oil for its exports.
“The program aims to help local businesses grow, by encouraging local consumers to buy more locally made products, and helping businesses increase their exports to priority markets,” he said.
Khorayef noted that creating an industrial identity as a source of pride had always been an ambitious national project and a pillar for the Kingdom to become a pioneering industrial power.
The program will provide a wide range of benefits and opportunities for member companies, with the aim of expanding their work and promoting their products locally and internationally.
“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.
The program will enhance the spirit of national solidarity to support national facilities for the benefit of Saudis.
The minister called on all eligible companies to join this national program and benefit from the qualitative advantages it provides in order to become a true partner to achieve the great national goals.
The “Made in Saudi” program supports local content and directs purchasing power towards local products and services. It helps in diversifying the sources of income, increasing the private sector’s contribution in GDP to 65 percent and expanding non-oil GDP to 50 percent by 2030.