Lack of skills and the growing unemployment of Saudis is the biggest challenge in determining the local content that should be packaged in pursuing the Kingdom's economic goals, particularly industrial development, according to Abdulwahed Al-Humaid, Deputy Labor Minister . “Unless we are able to address these problems facing Saudi human resources, a vital local content component in setting up industries and development targets, our goals toward economic growth and prosperity will not be complete,” Al-Humaid said, addressing the Local Content Forum convened here Monday at the Asharqia Chamber of Commerce and Industry, Eastern Province. “The Saudi unemployment rate is 9.8 percent, with over 400,000 Saudis unemployed. These are the challenges in achieving our economic targets, in deciding what local content should go into our planning for industries,” he said. Speakers from various fields, such as oil and gas, petrochemicals, mining, electricity, water and energy, and financial institutions, such as, the Saudi Industrial Development Fund, presented their respective local content in setting up their development goals. Saudi Aramco, concerned by projections that the Saudi population will reach 40 million by the year 2020, is increasing more added value products for the private business sector to engage in. The company is focusing on supporting small and medium enterprises (SMEs). Saudi Aramco is also developing Saudi manpower capability as part of its local content contribution. It has established training centers managed by professional groups to provide basic training required by its jobsites. The mining company Ma'aden is expanding its exploration of mineral resources and has planned projects that will support the exploration drive, including the construction of a railway loop from its mining sites that will deliver mineral resources from near the Jordanian border to Riyadh. Ma'aden local contents are diversified minerals that include gold, aluminum, and manganese. The Saudi Electric Company (SEC) has identified electricity materials among its local contents, including the cable, poles, and electricity towers. SEC is encouraging the establishment of local workshops to manufacture and produce these components. The Saudi Water Authority is encouraging local companies to partner with foreign companies in producing and manufacturing over 100,000 items needed by the Kingdom's desalination plants and floating plants.
