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Al-Khorayef launches ‘Made in Saudi’ program

Economy

Al-Khorayef launches ‘Made in Saudi’ program

The Minister of Industry and Mineral Resources and Chairman of the Board of Directors of Saudi Export Development Authority (SAUDI EXPORTS) Bandar Bin Ibrahim Al-Khorayef has launched the “Made in Saudi” Program under the patronage of Crown Prince Muhammad bin Salman, deputy prime minister and minister of defense.

The “Made in Saudi” program is an initiative that aims at supporting national products and services at local and international levels.

The launch of the program emanates from the Crown Prince’s interest in and keenness on national industries and his endless support for the national product in order to enhance its role in terms of high quality and competitiveness at regional and international levels.

The program in addition will also raise awareness and confidence in the national product and local industries at various levels.

The minister, during a virtual event, stressed that the “Made in Saudi” Program aims at increasing “the culture of loyalty to the national product”.

He added that the program was designed according to studies of the experiments of several countries that realized qualitative successes in developing their industrial capabilities.

This was done through urging their citizens and instilling the value of loyalty to the national product and giving it a priority, which, consequently, contributed to localizing industries and achieving self-sufficiency in various fields.

The minister noted that the Crown Prince has big aspirations toward this important program, which is considered a program for all Saudis due to its significance in changing the stereotype about the Kingdom of Saudi Arabia as being a country that relies greatly on its oil exports into a huge national market.

The change into a national market includes a variety of products and multiple trademarks that will contribute to enriching the local industry and increasing the share of exports.

He said that creating an industrial identity to be a source of pride in the world has always been an ambitious national project through joining efforts of several public and private institutions, in a bid to make this identity a pillar for Saudi Arabia to become a pioneering industrial power, under the directives of the Custodian of the Two Holy Mosques King Salman and Crown Prince.

Al-Khorayef also pointed out that confidence in the national product has become an urgent need for having big economic impacts in stimulating local investments, attracting foreign investments, creating jobs, enhancing export capabilities, and improving the balance of payments, in addition to its big impact on expanding the economic base of the country and increasing GDP.

The minister stressed that the “Made in Saudi” Program will offer a big package of advantages and opportunities to member companies with the aim of expanding their scope of work and promoting their products locally and internationally, where they can use the logo of the “Made in Saudi” on their products that meet the standards of the program to guarantee their commitment to the agreed-upon quality.

He also noted that the program would enhance the value of national solidarity to support national facilities in a way that benefits citizens.

Al-Khorayef also called on all qualified companies to join this national program and benefit from qualitative advantages it offers, so as they can be a real partner in realizing bigger national targets.

It is worth mentioning that the “Made in Saudi” Program will play a main role in realizing the Saudi Vision 2030 through supporting the local content and directing the purchase power toward local products and services until the contribution of the private sector in GDP reaches 65% and increasing the share of non-oil exports in GDP to 50% by 2030.

Contents published under this byline are those created by the news team of WeeklyBlitz

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