- iktva added $280 billion to Saudi Arabia's GDP and attracted $9 billion in investment.
- The program created over 200,000 direct and indirect jobs in the Kingdom.
- Aramco aims to achieve 75% local content in procurement by 2030.
- iktva identified over 200 localization opportunities across 12 sectors.
iktva Program Achievements
Since its inception, Aramco's iktva program has significantly contributed to Saudi Arabia's economy, adding over $280 billion to the GDP and attracting $9 billion in inward investment. The program has also been instrumental in creating more than 200,000 direct and indirect jobs across the Kingdom.
Future Goals
Building on its success, Aramco has announced its intention to increase local content in its procurement of goods and services to 75% by 2030. This goal aims to further enhance the resilience and reliability of Aramco's supply chain.
Localization Opportunities
iktva has identified over 200 localization opportunities across 12 key sectors, representing an annual market size of $28 billion. These opportunities have led to more than 350 investments from 35 countries, resulting in new manufacturing facilities in Saudi Arabia.
Supply Chain Resilience
The program has converted Aramco's project spending into domestic economic multipliers, supporting job creation, improving productivity, and reinforcing supply chain resilience. By localizing goods and services, iktva has reduced supply-chain vulnerability and enhanced operational continuity.
