Local Content Forum 2024

The Local Content Forum 2024 is the second edition of the Local Content Forum, organized by the Local Content and Government Procurement Authority (LCGPA). It represents one of LCGPA’s strategic initiatives. The forum took place in the capital, Riyadh, in the middle of the Kingdom of Saudi Arabia, under the theme 'Partnerships for Sustainable Development' with participation from both the public and private sectors. It was held from November 20 to 22, 2024.

The second edition of the Local Content Forum 2024 aims to create a platform for raising awareness about local content enablers, policies, and mechanisms. It also seeks to facilitate knowledge and experience exchange, foster strategic partnerships, explore investment opportunities, and highlight success stories to motivate the public and private sectors.

The forum witnessed the signing of several agreements aimed at developing local content in the national economy, alongside the launch of several local content programs in collaboration with the private sector. The event featured a series of panel discussions, specialized workshops, and an accompanying exhibition with more than forty-five participating entities from both the public and private sectors. These activities showcased contributions toward enhancing local content and allowed for expertise exchange to open new investment opportunities.

The Local Content Forum 2024 included five main topics: introducing the concept of the Local Content Forum, the importance of local content and its impact on the national economy, the role of the private sector in developing local content and meeting its requirements, raising awareness of national products and services, and reviewing initiatives and opportunities for developing local content.

The Local Content Forum 2024 featured the launch of several programs, such as Nartaqi, Estidama, and Wattenha Programs.

The forum also witnessed the launch of the Made in Saudi 'Gold Category' label, aimed at directing the purchasing power of community members toward local products and services that contribute to local content. It seeks to encourage the private sector to develop and adopt local content practices, empower national products and services, and distinguish entities based on their contribution to developing local content and its components.

On the sidelines of the forum, forty-six workshops were held with 340 participants, addressing topics designed to raise awareness of the concept of local content. These included the preference for local content and small and medium enterprises (SMEs) in the operations and procurement of companies where the state owns more than 50 percent of capital, the Regulations on Preference for Local Content, and the journey of measuring local content, in addition to introducing the economic participation policy to enhance local growth.

Additionally, nine panel discussions were held as part of the forum’s activities, addressing the future directions of local content within the framework of Saudi Vision 2030. The discussions highlighted the importance of local content in Saudi Arabia, covering 'industry, energy, healthcare, logistics, digital transformation, water, the integration of governmental efforts to enhance local content, and the role of major national companies in achieving the local content agenda.'

The second edition of the Local Content Forum welcomed more than six thousand visitors.

The Local Content Forum 2024 witnessed the signing of numerous agreements by LCGPA, including twenty-five agreements for localizing industries and transferring knowledge in several key and vital sectors in Saudi Arabia, such as 'transportation, healthcare, and technology,' with an estimated impact on the gross domestic product (GDP) of approximately SAR14 billion. As part of economic participation agreements, LCGPA signed thirteen agreements aimed at developing local content and fostering industries within Saudi Arabia. These agreements resulted in the establishment of regional headquarters for several companies in Saudi Arabia, in addition to knowledge transfer initiatives. The total investments under these economic participation agreements exceeded SAR1.7 billion.

Furthermore, during the second edition of the Local Content Forum, LCGPA signed six strategic partnership agreements with the public and private sectors to develop local content in various fields, including 'energy, transportation, industry, and water.' The agreements aim to enhance local content, develop a comprehensive strategy to define its targets, and build programs to achieve these targets across all local components.