RIYADH: The number of government tenders launched in Saudi Arabia that were subject to local content mechanisms reached around 8,600, with a total value of SR63 billion ($16.8 billion) in the second quarter of this year, according to official government data.
The data, obtained by Al-Eqtisadiah, showed that the Local Content and Government Procurement Authority signed five agreements during the same period under the industrial localization and knowledge transfer contracting mechanism, with a combined value exceeding SR1 billion.
The authority also signed three agreements under the Economic Participation Program, valued at SR350 million.
During the second quarter, the authority expanded the mandatory list of national products, adding 79 new products and bringing the total number of products on the list to 1,752.
$80bn under local content
