22 Hrs
Source:
الاقتصادية
Saudi government projects worth 63B riyals in Q2
Official data showed that Saudi Arabia launched around 8,600 government competitions during the second quarter of the year, with a total value of 63 billion riyals, focusing on local industrialization and increasing domestic content. Five agreements were signed worth over one billion riyals, along with three agreements under the Economic Participation Program valued at 350 million riyals. Additionally, the list of national products has expanded to now include 1,752 items, with 79 new products added. The proportion of local content in government procurements also rose from 28% in 2018 to over 51% last year. Since the beginning of the program, 80 agreements have been implemented, totaling more than 19 billion riyals, emphasizing knowledge transfer and localizing key industries, with the aim of strengthening the national economy and increasing reliance on domestic products.
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