Aramco to hold 4th annual IKTVA Forum and Exhibition for the best practices in local content

Aramco to hold 4th annual IKTVA Forum and Exhibition for the best practices in local content
Published: 22 November 2018 - 2 a.m.
By: Martin Menachery

Under the patronage of HRH Prince Saud bin Nayef bin Abdulaziz Al Saud, governor of the Eastern Province, Saudi Aramco will hold its 4th annual forum for the In-Kingdom Total Value Add (IKTVA) programme during 26-27 November 2018 at the Dhahran Expo Center in Dammam.

The event will bring together a broad spectrum of local and international investors to explore energy supply chain investment opportunities. Experts and specialists from various entities and companies will contribute to dynamic panel discussions, presentations, workshops and seminars.

This year’s IKTVA Forum & Exhibition will reinforce the programme’s positive impact on the national economy in alignment with Vision 2030, Saudi Arabia’s economic diversification programme. The event will highlight success stories and the best practices for promoting supplier local content.

Saudi Aramco designed IKTVA to make the Saudi energy sector globally competitive by localising goods and services, creating direct and indirect jobs for citizens, and increasing the kingdom’s export of energy-related goods and services by 30%.

The programme falls within the strategic initiative framework of the National Transformation Programme intended to amplify efforts by the company’s suppliers in driving local goods and services investments, delivering workforce development and technology transfer, and fostering R&D, while providing partners with opportunities for expansion.

IKTVA seeks to develop a reliable, sustainable supply chain capable of sourcing 70% of its energy sector materials and services requirements locally. By 2030, the programme also aims to establish 30 training centres, helping 360,000 highly skilled graduates take on the jobs of the future.

“While creating quality jobs, building a well-trained workforce and stimulating economic growth are key objectives, localisation is ultimately about sustainability,” said Mohammad A Al-Shammary, Saudi Aramco vice president of procurement and supply chain management.

“Sourcing Saudi Aramco’s value chain in our own backyard is a strategic move for greater integration and agility, with business benefits that dramatically multiply our contribution to the kingdom’s long-term prosperity, in addition to being a win for our global suppliers, SMEs, manufacturers and service providers.”

This year’s IKTVA Forum is expected to host more than 3,000 participants from over 40 countries, including new and veteran investors, suppliers, and service providers. Also, more than 50 supply chain investment opportunities will be promoted, as well as, multiple seminars focusing on how to do business in Saudi Arabia and with Saudi Aramco. The forum is enriched by an exhibition of local and international companies, along with training academies, industrial parks and government entities.

The 2018 IKTVA Forum and Exhibition is the leading global energy supply chain event, hosting a diverse range of industry sectors both local and international, large and small. Over the past four years, large companies and SMEs have partnered with Saudi Aramco to build a world-class, competitive energy sector.

For the latest refining and petrochemical industry related videos, subscribe to our YouTube page.

Click here to add your comment

Please add your comment below
Name
Country
Email
Your email address will not be published
Captcha