Saudi development throughout the Made in Saudi program
Made in Saudi Arabia is a key part of Vision 2030, a pivotal step in promoting local industries. Moreover, it encourages consumers to buy Saudi Arabia products and services within the kingdom. The initiative was launched in March 2021 under the supervision of the Export Development Authority for Saudi development. With the support of His Royal Highness Prince Mohammed bin Salman, Crown Prince, as part of the National Industry and Logistics Development Program (NDLP)
Objectives of the “Made in Saudi Arabia” initiative
The “Made in Saudi Arabia” initiative aims to achieve a range of ambitious objectives, including:
Raising the proportion of non-oil exports: The Kingdom seeks to increase the proportion of non-oil exports to 50% of non-oil GDP by 2030.
Promoting loyalty to local products: One of the aims of the initiative is to create a unified national identity for Saudi products. So that they become the first choice for consumers inside and outside the Kingdom. This contributes to promoting domestic consumption and encouraging small and medium-sized industries to grow.
Expanding Saudi companies’ access to global markets: By giving local companies the opportunity to use the slogan “Made in Saudi Arabia”, these companies can market their products more effectively internationally, thereby improving their competitiveness.
Benefits of the program for local companies
By joining the “Made in Saudi Arabia” program, Saudi companies benefit from a range of benefits, including:
Using the slogan “Made in Saudi Arabia”: This logo gives Saudi products a strong identity both locally and globally. Enhancing the credibility and quality of the product in the eyes of consumers.
Global Promotion: The initiative contributes to supporting Saudi companies to expand their markets outside the Kingdom. Both through direct product promotion and through participation in international exhibitions and trade events.
Promoting innovation and entrepreneurship: Supporting national industries does not stop with traditional manufacturing. But extends to new innovations in different sectors such as technology, creative industries, and services.
Challenges and opportunities
Despite the significant benefits, locqal companies face challenges in expanding their production and competitiveness globally. Some of these challenges include increasing productive capacity, improving quality, and providing appropriate infrastructure. However, the program offers significant opportunities for companies to benefit from strong government support. Both in terms of legislation and finance, as well as to participate in national economic growth plans provided by Vision 2030.
Sectors covered by the initiative
The initiative includes 16 vital sectors, ranging from food industries to heavy industries, reflecting the great diversity of Saudi production. Saudi products have also been exported to more than 180 countries, an indicator of the extent of their reach.
Impact of the initiative on consumers
For consumers, the program initiative means providing high quality products made within the country. While enhancing confidence in local products, this contributes to driving the national economy by supporting local industries. In addition, reducing import dependence and creating more jobs for the Saudis.
Social and economic impact of made in Saudi
The program plays a pivotal role in supporting the national economy. They contribute to the achievement of the following objectives:
SME Development: This program is a great support for SMEs, by enabling them to access global markets and increase their sales.
Job creation: The program contributes to increasing employment within the Kingdom, stimulating local industries and providing more jobs for Saudis.
Encouraging Foreign Investments: Thanks to the status and high quality of Saudi products, the initiative can be a powerful tool to attract foreign investments to the Kingdom.
Conclusion
The “Made in Saudi Arabia” initiative is not just a national campaign to support domestic products in the Saudi development context. But a strategic step towards achieving the Kingdom’s sustainable economic development. By promoting innovation, supporting entrepreneurship and improving global competitiveness. This initiative contributes to building a strong and sustainable economy in line with Vision 2030’s aspirations.