Industry Ministry launches local supply chain initiative for 9,000 products

The launch ceremony

The Ministry of Industry and Mineral Resources launched an initiative aimed at developing local supply chains by clarifying the value chains for about 9,000 industrial products, according to a ministerial statement.

The ministry targets to enhance transparency in the sector, boost industry growth and enhance local content.

The initiative will show the industrial value chains of the products, as it will be supported by information on the supply chains of the beneficiaries in the private and public sectors.

This will enable and boost investment considering higher integration of local supply chains, linked with regional and global supply chains as a primary output.

The statement assured that the initiative will develop local supply chains to ensure inclusiveness and the involvement of all stakeholders.

The initiative focuses on enhancing awareness of local supply chains and the industrial sector in the Kingdom, developing mechanisms for studying local supply chains, in addition to solving the challenges facing small and medium enterprises (SMEs) in entering supply chains.

This enables manufacturers to expand their industry through integration in the supply chain, and enhance access to SMEs, for additional requests from state-owned enterprises, government procurement, and the private sector.

The ministry pointed out that this initiative affirms the importance of collecting and organizing the necessary information about the products to make them available to the authorities concerned, especially supply chains data for industrial products.

The step enables identifying the gaps and manufacturing opportunities that attract local and foreign investment, in order to achieve the desired growth at the sector level and fill the gaps in the local supply chains.

The data will be added to a unified database and reviewed through a dedicated tool for analyzing industrial value chains, the statement clarified.

Also, the procedures related to the development of industrial supply chains, which include attracting investments, identifying gaps and qualification procedures, have been reviewed to help decision makers for improving local industry.