Al-Rumayyan: iktva program attracts over 500 investments in Saudi Arabia

Al-Rumayyan: iktva program attracts over 500 investments in Saudi Arabia

DHAHRAN — Saudi Aramco Chairman Yasir Bin Othman Al-Rumayyan stressed that Aramco has several programs and initiatives that support the localization of technologies and production, where the company, through the In-Kingdom Total Value Add (iktva), seeks to increase investment, economic diversity and increase job opportunities inside Saudi Arabia Also the localization program aims to localize 70% of the total expenditure, create a business environment that provides thousands of jobs and empower exports of the Saudi energy sector products. In a statement to the Saudi Press Agency (SPA), on the sidelines of the iktva Forum that was inaugurated by the governor of the Eastern Region, he said: “Since the establishment of the program in 2015, benefits accumulated in enhancing partnerships between local companies and their international leading counterparts, where these partnerships seek to enhance cooperation, alignment and overcome any operational challenges.” He added that iktva program is based on a win-win approach, especially that it serves the needs of Aramco and its partners through facilitating the development of a diversified, sustainable and globally competitive energy sector. This is in addition to its role in establishing a supportive system to the comprehensive value chains that help companies work efficiently in the Kingdom