To support the Kingdom’s vision to increase its non-oil exports to 50 percent by 2030, the Saudi Export Development Authority will create a “Made in Saudi” initiative in the first quarter of 2021.
The initiative targets to speed up the industrialization process and raise the Kingdom’s status into a global industrial destination. As part of the program, the country will create a unified brand identity for products and services made in Saudi in both regional and global markets.
Saleh Al-Solami, the secretary-general of the authority, stated that the program will help to boost the status of Saudi products and services and it seeks to attain the goals framed in the National Industrial Development and Logistics Program.
With the “Made in Saudi” program, the authority plans to offer membership schemes for the regional companies which meet the eligibility criteria. The selected firms will be given quick access to promotional facilities along with incentives by associating with the public and private sectors.
Along with these benefits, the member companies will also be permitted to use the “Made in Saudi” marque on their products to ensure expansion in target markets.
Dr. Abdul Aziz I. Daghistani, an economics expert and chairman of the Riyadh-based Economic Studies House, opined that good quality and competitive prices will be the key factors for the success of this program.
Saudi Arabia is working on its Vision 2030, which aims to diversify the country’s economy by promoting non-oil exports. Dr. Daghistani states that “the ‘Made in Saudi’ program will help take Saudi exports to the next level.”
The program will play a significant role in elevating the Kingdom’s position to the frontline of the global industrial landscape.
Dr. Hassan M. Somili, a marketing expert, states that enforcing a rigid legal framework to ensure the quality and standard of products will help the country to promote its products effectively on global markets.
The success of the “Made in Saudi” program not only relies on the authorities but it also depends on the traders and exporters who must ensure to meet the international standard with their services and products, Dr. Somili stated.