Saudi Aramco: London Championship to Witness Participation of World's Best Female Golfers    Saudi Arabia to Participate in the World Economic Forum 2022 with High-Level Delegation    KSA participates in 33rd emergency meeting of Arab Parliamentary Union    Misk Foundation services cover 490,000 beneficiaries and 170 startups in 2021    Prince Khalid meets US Secretary of State    North Korea claims progress despite thousands more with fever symptoms    Saudi Arabia arrests 12,458 illegals in a week    Netflix pays $59 million to settle tax dispute in Italy    Ministry clarifies way to change health status through Eatamarna in case there is error    Saudi Census 2022's self-enumeration deadline to end on May 25    SR200,000 in fine, 5 years jail on using force or threats to perjure    'Largest-ever number' in need in Syria, warns UN relief chief    Europe: WHO supporting countries affected by rare monkeypox outbreak    FII Institute unveils new Inclusive ESG Framework, invests €500,000 in green tech firm    Saudi woman finds out she is male after 20 years    Custodian of Two Holy Mosques Congratulates President of the Presidential Leadership Council of the Republic of Yemen on the Anniversary of the Unification Day of his Country    HRH Crown Prince Congratulates President of the Presidential Leadership Council of the Republic of Yemen on the Anniversary of the Unification Day of his Country    Saudi Press Report    Weather Forecast for Saturday    "Jeddah Art Promenade" Attracts Visitors of Jeddah Season with Live Shows on Waterfront    KSrelief distributes 400 food baskets in Afghanistan    Registration for "MEDIATHON" extended for additional 7 days    EU: Cooperation with GCC establishes a strategic partnership between the two parties    India's Nikhat Zareen wins gold at Women's World Boxing Championship    Leading personalities take over Ras Al Khaimah in new global brand campaign All-new digital-first campaign brings the Northern Emirate to life    Rare 1955 Mercedes sells for world record price at auction    FII's Environmental, Social and Corporate Governance (ESG) Summit in Emerging Markets kicks off in UK    Saudi Arabia Heads to Cannes International Film Festival to Promote Country's Flourishing Industry and Support Emerging Talent on World Stage    Saudi Arabia bags two gold medals at GCC Games    Salman bin Ibrahim to seek third term at AFC helm    US Soccer equalizes pay in milestone with women, men    Hospital admissions for eating disorders soar in Britain    Saudis in Cannes: Promoting country's flourishing film industry    STA signs over 90 agreements and MoU in Dubai ATM 2022    President of SAFF Participates in AFC General Assembly Meeting    Saudi Athletes Achieve Great Victories in the 2nd Day of the GCC Games Tournament in Kuwait    Jazan Hosts West Asian Beach Soccer Championship    Bollywood actor's tweet reignited debate over Hindi as India's national language    SFDA Advises to Wash Dates Well Before Eating    SFDA Advises Against Mixing Surplus of Iftar and Suhoor with Different Foods or Surplus from Other Days    Ministry calls on imams to avoid long supplications in Tahajjud Prayer    Nothing wrong with a Muslim celebrating birthdays, says Saudi scholar    Ranbir Kapoor and Alia Bhatt: Bollywood wishes for star couple on wedding    SFDA Warns Against Microbes Accumulation on Coffee when Stored Incorrectly    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    Pilgrims Perform Dhuhr and Asr Prayers at Arafat Holy Site    Council of Senior Scholars: Muslim Brothers' Group Don't Represent Method of Islam, rather only Follows its Partisan Objectives, Violating our Graceful Religion    Eid Al-Adha Prayer Performed at the Grand Holy Mosque    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Governor of Eastern Region Inaugurates 6th iktva Forum and Exhibition
Published in Saudi Press Agency on 24 - 01 - 2022

Prince Saud bin Nayef bin Abdulaziz Al-Saud, Governor of Eastern Region, inaugurated today the 6th edition of Total Value Add (iktva) Forum and Exhibition.
The inauguration ceremony was attended by Prince Abdulaziz bin Salman bin Abdulaziz Al Saud, Minister of Energy; Prince Ahmed bin Fahd Al Saud, Deputy Governor of the Eastern Region, and Chairman of Aramco's Board of Directors Yasir Othman Al-Rumayyan.
The Eastern Region Governor considered that the program of this 6th forum is one of the most important programs for promoting local content and localizing technology and industry, in addition to being a major contributor to the promotion and development of Saudi industries.
Aramco's supply chain resilience has been further enhanced by the signing of 50 new Memoranda of Understanding (MoUs) at iktva Forum and Exhibition. Progress in the Company's flagship business continuity initiative is being showcased at the three-day gathering, which runs from January 24 to 26 at Dhahran EXPO, in the Kingdom of Saudi Arabia.
The iktva program aims to drive domestic value creation, maximize long-term economic growth and diversification, and build a world-class supply chain that facilitates the development of a diverse, sustainable and a globally competitive energy sector in the Kingdom, at a time when global supply chains have been disrupted by the COVID-19 pandemic.
As a result of iktva, 59% of Aramco's spending in 2021 was directed to domestic suppliers, up from 35% in 2015 when the program was launched.
Held under the theme 'Paving the way to economic success', the iktva forum highlights how partnerships with some of the world's top energy, logistics, and manufacturing companies continue to enhance the domestic commercial ecosystem and enable the reliable supply of energy to the world.
The forum will also recognize the outstanding achievements of Aramco's program partners across 10 categories, which include overall iktva performance, training, Saudization, female representation, supplier development, and exports.
Aramco President and CEO Eng. Amin H. Nasser, said: "It wasn't possible to predict the pandemic, but iktva helped prepare us for the uncertainties it caused. Our investment in a diversified network of suppliers has helped us maintain a track record of reliability, despite the ongoing impact of COVID-19 on global supply chains. The iktva program continues to prove its value by contributing to an increasingly vibrant, dynamic and business-friendly environment in Saudi Arabia."
The iktva program has helped establish a competitive industrial base, resulting in exports to more than 40 countries. Meanwhile, local content requirements embedded in thousands of contracts have contributed more than USD 100 billion to the national economy.
At the same time, iktva has attracted more than 540 investments to Saudi Arabia from 35 countries.
Innovation and sustainability are essential components of the iktva model, which embraces new technologies, encourages more efficient logistics networks and emphasizes the Circular Carbon Economy framework.
Cybersecurity is another program priority, ensuring both Aramco and its network of suppliers and contractors have robust protections in place to defend against emerging threats and safeguard business continuity.


Clic here to read the story from its source.