Saudi Arabia’s new initiative ‘Made in Saudi’, a program that aims to promote the use of locally manufactured products and services at the national and global level, will be launched on March 28.
The Saudi Export Development Authority stated that the launch of the program will be done through a virtual event by Bandar Al-Khorayef, Minister of Industry and Mineral Resources.
The Made in Saudi initiative will play a key role in creating a unified brand identity to promote the country’s products and services within the local and global markets. Further, it will enhance the position of the Saudi product in accordance with the highest standards of reliability and excellence, the statement added.
The program is a major step in the kingdom’s Vision 2030 road map that aims to diversify its economy and cut its reliance on oil revenues. As per reports, initiatives like Made in Saudi, could help to raise the contribution of non-oil exports to 50 percent by 2030.
Following the coronavirus, the Gulf countries are increasingly ramping up production to generate more economic value locally. Many nations are prioritizing self-sufficiency after measures to revive trade and supply chains that were disrupted due to the pandemic.
Earlier this year, Abu Dhabi launched a new program to support locally made products in an effort to achieve self-sufficiency in the production of basic goods and to help local businesses.
The campaign which was named ‘Made in Abu Dhabi’, has an Instagram page that enables local businesses to display their products, according to the Abu Dhabi Department of Economic Development (ADDED).
“The campaign aims to enhance the reputation of national products within the local market, followed by regional and global markets”, says Mohammed Al Shorafa, chairman of ADDED.
The move comes in line with Abu Dhabi’s efforts to support local manufacturers, especially small and medium enterprises, to expand their business.