Saudi Aramco announced on Wednesday that its supply chain transformation program, iktva (In-Kingdom Total Value Add), has achieved its target of reaching 70% local content.
Building on this milestone, the company said that it plans to increase local content in its goods and services procurement to 75% by 2030.
Since its launch, the iktva program has contributed more than $280 billion to the Kingdom’s gross domestic product, reinforcing its role as a key driver of industrial development, economic diversification, and long-term financial resilience.
Through the localization of goods and services, the program has strengthened the resilience and reliability of Aramco’s supply chains, enhanced operational continuity, reduced supply chain vulnerabilities, and provided protection against global cost inflation - capabilities that proved critical during periods of disruption.
Aramco President and CEO Amin Nasser expressed pride in the scale of transformation achieved through iktva and its positive impact on the Kingdom’s economy, noting that the announcement represents a major milestone in the program’s journey and reflects a significant leap in Saudi Arabia’s industrial development, fully aligned with the Kingdom’s national vision.
“iktva is a core pillar of Aramco’s strategy to build a competitive national industrial ecosystem that supports the energy sector while enabling broader economic growth and creating thousands of job opportunities for Saudi nationals,” he stressed.
By localizing supply chains, the program ensures operational reliability and mitigates disruptions that may affect global supply chains, he added, noting that its cumulative impact over a decade demonstrates the sustained value it continues to generate.
Over the past decade, iktva has emerged as a leading example of supply-chain-driven economic transformation, converting Aramco’s project spending into domestic economic multipliers that have created jobs, improved productivity, stimulated exports, and strengthened supply chain resilience.
The program has identified more than 200 localization opportunities across 12 key sectors, representing an annual market value of $28 billion. These opportunities have translated into tangible investment outcomes, catalyzing more than 350 investments from 35 countries in new manufacturing facilities within the Kingdom, supported by approximately $9 billion in capital. These investments have enabled the local manufacture of 47 strategic products in Saudi Arabia for the first time.
iktva has also contributed to the creation of more than 200,000 direct and indirect jobs across the Kingdom, further strengthening the local industrial base and national capabilities. To support continued growth, the program organized eight regional supplier forums worldwide in 2025, in addition to its biennial forum. These events helped connect global investors, manufacturers, and suppliers with localization opportunities in Saudi Arabia.
