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IKTVA Forum Kicks Off to Discuss Developing Energy Supply Chain Sector in Saudi Arabia

IKTVA Forum Kicks Off to Discuss Developing Energy Supply Chain Sector in Saudi Arabia

Monday, 24 January, 2022 - 08:45
IKTVA program contributes to promoting growth in the business environment. (Asharq Al-Awsat )

The In-Kingdom Total Value Add (IKTVA 2022) has kicked off on Monday, highlighting the oil giant’s role in boosting local opportunities in Saudi Arabia.

Saudi Aramco organized the three-day event, held at the Dhahran Expo Center in the Kingdom’s Eastern Province, to allow business partners to meet and discuss the field of energy supply chain and identify opportunities aimed at developing the sector.

The forum presents 180 investment opportunities in nearly 10 sectors, more than 50 seminars and five dialogue sessions on the oil sector. Nearly 250 participants and 15,000 visitors will attend the event.

Aramco designed IKTVA program to enhance the efficiency and value of the supply chain at the business level and encourage the development of a diversified, sustainable and globally competitive energy sector in the Kingdom.

The forum contributes to attracting investments, supporting plans and programs for localizing goods and creating direct and indirect jobs for citizens.

Supply chain partners play a major role in supporting the continuous competitive growth of the energy sector and the local economy in a sustainable manner.

Investment opportunities focus on the mineral ecosystem, non-metallic, chemical and non-conventional materials, in addition to oilfield equipment and services and maritime projects and services.

Among the investment opportunities are digital transformation, fire and environment protection, public procurement, measuring and electrical equipment.

The program further contributes to promoting growth in the business environment and encouraging long-term partnerships to provide opportunities and support supply chains.

It also raises the rate of local manufacturing and exports, stimulates innovation through global partnerships and investments, as well as nurtures and trains the local workforce in more than 60 fields and through 16 vocational training academies.

IKTVA proven success model has become the cornerstone of the Local Content and Government Procurement Authority model. This contributes to accelerating the pace of development of the industrial system in Saudi Arabia via various sectors.

It also succeeded in attracting many investments and creating a system of integrated supply chains to help companies start their businesses in the Kingdom.

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