28/06/2021
Sadara Chemicals: Price preference in the financial evaluation of a product made in Saudi Arabia
The Vice President for Business and Services Affairs at Sadara Chemical Company, Dr. Abdullah bin Ali Al-Ahmari, reviewed the company's experience with programs to activate local content and its impact on the national economy.
Al-Ahmari said during a meeting organized by the Asharqia Chamber represented by the Jubail Business Council on Monday, June 28, 2021, and moderated by the Chairman of the Council, Mubarak bin Abdullah Al-Mishal, that Sadara Company has been cooperating with the Local Content Authority since 2018, intending to share spending data at the company level and express opinions and experiences in content measurement mechanisms He pointed out that Sadara is working to educate contractors and companies retired with it to clarify the concept of local content and emphasize the importance of auditing its levels to enable the authority to measure accurate indicators at the national level.
Al-Ahmari explained that the criteria for measuring local content are the actual value contributed to the national economy, and this is reflected in salaries in the Kingdom, spending on goods and services, spending on developing suppliers and training Saudis, as well as the consumer value of assets in the Kingdom, pointing out that local content will be one of the main elements. In procurement processes and awarding contracts in Sadara Company, where the company aims to support Saudi factories and achieve the goals of the “Made in Saudi” program, which was launched in March 2021, so the product made in Saudi Arabia will have a price preference in the financial evaluation, revealing that the company spent 81 percent of the value of the goods and services in the local market during the past five years (2016-2020).
