DHAHRAN — Saudi Aramco introduced on Wednesday that its provide chain transformation program, iktva (In-Kingdom Whole Worth Add), has achieved its goal of reaching 70 % native content material. The oil large additionally reaffirmed its dedication to elevating this proportion to 75 % by 2030.
The “iktva” program has generated over 200,000 direct and oblique job alternatives throughout the Kingdom. It has additionally drawn greater than 350 investments from 35 international locations to ascertain new manufacturing amenities inside Saudi Arabia, ensuing within the native manufacturing of 47 strategic merchandise for the primary time.
This system is thought to be one of the vital distinguished drivers of business growth and financial diversification. Since its inception, it has contributed greater than $280 billion to the Kingdom’s gross home product (GDP), along with attracting $9 billion in overseas direct funding. This strengthened its function as a key driver of business growth, financial diversification, and long-term monetary resilience.
By way of the localization of products and companies, this system has strengthened the resilience and reliability of Aramco’s provide chains, enhanced operational continuity, diminished provide chain vulnerabilities, and supplied safety in opposition to international price inflation—capabilities that proved crucial during times of disruption.
Aramco President and CEO Amin Nasser expressed delight over the size of transformation achieved by means of iktva and its optimistic affect on the Kingdom’s economic system, noting that the announcement represents a significant milestone in this system’s journey and displays a big leap in Saudi Arabia’s industrial growth, totally aligned with the Kingdom’s nationwide imaginative and prescient. “Iktva is a core pillar of Aramco’s technique to construct a aggressive nationwide industrial ecosystem that helps the vitality sector whereas enabling broader financial progress and creating 1000’s of job alternatives for Saudi nationals,” he identified.
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Nasser acknowledged that by localizing provide chains, this system ensures operational reliability and mitigates disruptions that will have an effect on international provide chains, noting that its cumulative affect over a decade demonstrates the sustained worth it continues to generate.
Over the previous decade, iktva has emerged as a number one instance of supply-chain-driven financial transformation, changing Aramco’s challenge spending into home financial multipliers which have created jobs, improved productiveness, stimulated exports, and strengthened provide chain resilience.
This system has recognized greater than 200 localization alternatives throughout 12 key sectors, representing an annual market worth of $28 billion. These alternatives have translated into tangible funding outcomes, catalyzing greater than 350 investments from 35 international locations in new manufacturing amenities throughout the Kingdom, supported by roughly $9 billion in capital. These investments have enabled the native manufacture of 47 strategic merchandise in Saudi Arabia for the primary time.
To assist continued progress, the iktva program organized eight regional provider boards worldwide in 2025, along with its biennial discussion board. These occasions helped join international buyers, producers, and suppliers with localization alternatives in Saudi Arabia.
