The Local Content Forum 2024, the second edition of the annual event, was organized by the Local Content and Government Procurement Authority (LCGPA). Held in Riyadh from November 20 to 22, 2024, under the theme “Partnerships for Sustainable Development,” the forum brought together stakeholders from both the public and private sectors. Its goal was to strengthen collaboration, raise awareness about local content policies, and highlight investment opportunities that drive Saudi Arabia’s economic growth in line with Vision 2030.
Objectives of the Local Content Forum 2024
The forum was designed to:
- Raise awareness about local content enablers, mechanisms, and policies.
- Provide a platform for knowledge and experience exchange.
- Facilitate the formation of strategic partnerships.
- Highlight success stories that motivate both the public and private sectors.
- Explore opportunities for developing local content in the national economy.
Topics and Key Discussions
The Local Content Forum 2024 addressed five key areas:
- The concept of local content and its importance.
- The role of the private sector in meeting local content requirements.
- The impact of local content on the Saudi economy.
- Raising awareness about national products and services.
- Reviewing initiatives and opportunities to enhance local content.
These discussions were supported by nine panel sessions exploring the future of local content in Saudi Arabia. Key themes included industry, energy, healthcare, logistics, water, digital transformation, and integration of government efforts.
Major Events and Programs
The forum witnessed the launch of several significant programs:
- Nartaqi Program – focused on empowering national capabilities.
- Estidama Program – supporting sustainability in local content development.
- Wattenha Program – designed to strengthen Saudi industries.
- Made in Saudi – Gold Category – a label encouraging consumer preference for local products and services, rewarding entities that contribute significantly to developing national content.
Alongside the programs, the event featured 46 workshops with 340 participants aimed at raising awareness about regulations, SME support, and economic participation policies.
Agreements and Investments
A central outcome of the Local Content Forum 2024 was the signing of numerous agreements:
- 25 industry localization and knowledge transfer agreements in healthcare, transport, and technology, estimated to add SAR14 billion to Saudi Arabia’s GDP.
- 13 economic participation agreements supporting the establishment of regional headquarters and knowledge transfer initiatives, with investments exceeding SAR1.7 billion.
- 6 strategic partnership agreements with the public and private sectors, focusing on energy, water, transport, and industry to build a comprehensive strategy for local content.
Conclusion
With the participation of over 6,000 visitors and 45+ entities, the Local Content Forum 2024 underscored Saudi Arabia’s determination to enhance its local economy and reduce reliance on imports. Through new programs, workshops, and agreements worth billions, the forum highlighted the pivotal role of local content in building a diversified, sustainable economy under Saudi Vision 2030.
