• The program also contributed to providing more than 200,000 direct and indirect jobs in the Kingdom's regions.
• The company announced its intention to increase local content in its procurement of goods and services to 75% by 2030.

Dhahran – Saudi Aramco, a leading global integrated energy and chemicals company, announced that its In-Kingdom Total Value Add (IKTVA) program has achieved its target of 70% local content. Building on this significant milestone, the company also announced its intention to increase local content in its procurement of goods and services to 75% by 2030.

Since its inception, the In-Kingdom Total Value Add (IKTVA) program has contributed over US$280 billion to the Kingdom’s GDP, reinforcing its role as a key driver of industrial development, economic diversification, and enhanced long-term financial resilience. By localizing goods and services, IKTVA has supported the resilience and reliability of Saudi Aramco’s supply chains and business continuity, reducing supply chain vulnerability and providing protection against global cost inflation – a crucial factor during challenging times.

Commenting on this, Saudi Aramco President and CEO, Amin H. Nasser, said : “I am extremely proud of the transformation that the In-Kingdom Total Value Add (IKTVA) program has brought to Saudi Aramco and its positive impact on the Kingdom’s economy. This announcement represents a significant milestone in the program’s journey and embodies a qualitative leap in the Kingdom’s industrial development, in line with our ambitious national vision. The positive improvements in the Kingdom’s business environment following this vision have contributed to the success of the program, which is a key pillar of the company’s strategy to build a competitive local industrial ecosystem that supports the energy sector, contributes to driving economic growth, and provides thousands of quality job opportunities for Saudi nationals.”

Al-Nasser added: “By localizing the supply chain, the program also contributes to enhancing business reliability and reducing the impact of challenges that supply chains may face, and its cumulative impact over ten years reflects the depth of added value that it continues to achieve.”

Al-Nasser expressed his gratitude to all past and present employees of the program, and to the supporting partners who contributed to realizing investment opportunities. He also extended special thanks to His Royal Highness the Prince of the Eastern Province for his patronage of the annual IKTVA Forum and for his support and guidance, and to His Royal Highness the Minister of Energy for the support and encouragement the company and its IKTVA program receive to achieve success. He also thanked His Excellency the Minister of Industry and Mineral Resources, Chairman of the Board of Directors of the Local Content and Government Procurement Authority.

Over the past decade, “Iktifa” has emerged as one of the most successful real-world models of supply chain-based economic transformation, turning Saudi Aramco’s project spending into local growth drivers that have created jobs, improved productivity, stimulated exports, and enhanced the resilience of supply chains.

As part of this growth, the In-Kingdom Total Value Add (IKTVA) program identified over 200 localization opportunities across 12 key sectors, representing an annual market value of US$28 billion. These opportunities have translated into tangible investments, with the program attracting over 350 investments from 35 countries in new manufacturing facilities within the Kingdom, supported by approximately US$9 billion. These investments have thus far contributed to the manufacturing of 47 strategic products in the Kingdom for the first time.

The IKTVA program has also contributed to providing more than 200,000 direct and indirect jobs in various regions of the Kingdom, thus strengthening the local industrial base and national competencies.

To support continued growth, the IKTVA program organized eight regional supplier forums around the world during 2025, complementing the main forum held every two years. These events contributed to connecting global investors, manufacturers and suppliers with localization opportunities in the Kingdom.

For contact :

Relations   Media:   media.inquiries@aramco.com  

@saudi_aramco

About Saudi Aramco:

Saudi Aramco is a leading integrated global energy and chemicals company. Our global team continues to make an impact across all our businesses, from supplying the world with vital oil to developing new energy technologies. Saudi Aramco is committed to the reliability and sustainability of its resources, which helps drive growth and productivity worldwide. https://www.aramco.com/ar

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