Aims to Promote Local Content and Intra-Trade, The Prince of the East Launches "Bridging"
He confirms:
• The vision of rational leadership - may God preserve it - seeks to support and enable local content
• The required role of the chambers of commerce in promoting local content is still great
• The Ministry of Industry is working to build an efficient and capable local supply chain.
His Royal Highness, Prince Saud bin Nayef bin Abdul Aziz, Prince of the Eastern Region, sponsored the launch of the Eastern Chamber initiative to promote local content and intra-commerce "bridging", at the ceremony organized by the Chamber at its headquarters, in the presence of His Excellency the Minister of Industry and Mineral Resources Mr. Bandar bin Ibrahim Al-Khorayef, and a number of officials and interested in the industrial sector.
His Highness praised the care and concern of the Custodian of the Two Holy Mosques and His Highness the Crown Prince - to enable local content and make it a first choice in various industries and projects, noting that the steps that the Kingdom has taken towards enhancing local content and maximizing its economic impact will contribute to achieving the goals of the Kingdom's Vision 2030 to increase The size of the non-oil sector in relation to the gross domestic product, explaining His Highness that the role of the chambers of commerce in promoting the local industry is not limited to this initiative, as the opportunities are still wide in front of the chambers of commerce to link between major companies and small and medium enterprises, and find various initiatives To support and enable local content, consolidate the concept of quality and sustainability, and establish exhibitions, conferences and meetings that support and identify local content and the national industry, indicating his highness the important role played by the Ministry of Industry and Mineral Resources in supporting the role of the chambers of commerce and working to enhance the use of local products in national projects and industries, And support research and development in the private sector, and provide job opportunities, in accordance with the Ministry's strategy to support the manufacturing sector, and its plans to build a local supply chain with capacity and efficiency.
In the speech ceremony on this occasion, His Excellency Minister of Industry and Mineral Resources Bandar bin Ibrahim Al-Khorayef gave a speech announcing the Ministry's intention to launch the "Export Bank" in the coming days to be a supporter of the industrial sector that relies on the state in the development industry, and through which various industrial clusters will be launched, Which means looking at the clusters as a concept through which industrial ideas are built and work to bring factories that work in one activity closer, stressing that these initiatives and entities will help the industrial sector to grow and achieve the achieved results and goals, adding that the state relies on the industry sector to achieve The economic diversity, and the creation of real growth, to achieve the targeted development, in the industrial and mining sectors, which is large in fact, so the formation of an independent ministry came to find a work team that stands on a strong base built during more than 40 years ago, and our role is to complete this march through Preserving the gains, increasing the added value and exploiting the natural resources such as oil, gas, and minerals.
Turning to the Nadlab program for industry and logistic services, which is one of the largest programs launched and aimed at uniting the efforts of the sectors that the program serves, namely industry, mining, energy, and logistics.
The Chairman of the Asharqia Chamber, Abdul-Hakim bin Hamad Al-Ammar Al-Khaldi, said that there are many indicators that confirm the continuation of the national economy to its recovery, supported by several factors, on top of which is the partnership approved by Vision 2030 AD and granted to the private sector in the path of growth and development. He explained that the “Bridging” initiative that enters As part of the Asharqia Chamber’s efforts to achieve the goals of the 2030 vision by strengthening the role of the private sector in the process of economic growth and development that the country is experiencing in various sectors and areas, and its efforts to provide new and innovative services that support the business community from industrialists and local suppliers, they start from uh The importance of finding clear formulations towards consolidating the values of cooperation, participation, and integration among local industrialists, with the ease of cooperative work in exchanging information, products and raw materials between factories and each other, which leads to raising the percentage of local content in the national industry.
As for the member of the Board of Directors and Chairman of the Chamber of Industry and Energy Ibrahim al-sheik, he explained that industrialization is a strategic option for achieving sustainable economic growth, as it is a sector that has great capabilities in promoting economic growth, and holds more investment and career opportunities, and is characterized by its connection and interference with many activities the other economic, pointing out that the "bridging" initiative is a model for its mini-application and its outputs from industrial incubators, the first of its kind in the Kingdom - it comes as an innovative step that pushes towards building bridges of cooperation between our various factories, which leads to: ( It is what leads to (reducing operating costs, raising production capacity, and reducing capital, and thus increasing our ability to compete with advanced economies.)
