Local Content Coordination Council Hold 5th Meeting

06 Oct 2021

Maaal Riyadh

اقرأ المزيد

The Local Content Coordination Council held its fifth periodic meeting, chaired by the Chairman of the Board of Directors of the Local Content and Government Procurement Authority Bandar bin Ibrahim Al-Khorayef, in the presence of the CEO of the Authority Abdulrahman Al-Samari, and council members from various government departments and private sector,

During the meeting, they reviewed their strategy, which is based on an ambitious vision centered on building an integrated and harmonious system to maximize local content in the national economy, by launching plans, programs and building effective partnerships between the public and private sectors.

The council aims to increase the local content, develop and launch local content opportunities in various sectors, and enhance the effectiveness of communication with various economic segments.

The most important updates regarding the council’s initiatives were also reviewed, foremost of which is the adoption of a unified methodology for calculating the baseline and annual targets to increase local content, and the member companies’ purchase index of local goods, to benefit from the purchasing power of localizing industries, including the mandatory list of local products in purchases, and the price preference for the local product as well as inclusion of local content requirements in high-value projects.