The Concept of Local Content in Saudi Arabia
The concept has been developed as part of national regulatory efforts to boost economic development in Saudi Arabia. It aims to increase domestic spending by encouraging the participation of the Saudi workforce and reliance on local products and services. local content encompasses all elements of production within the Kingdom, including goods, services, and technology.
Frameworks Used:
- Points-Based Model (Baseline): This measures the actual local content achieved by the company during the previous fiscal year.
- Local Content Plan Templates: These set the targeted goals for local content when submitting proposals or projects.
- Periodic or Final Reporting Templates: Used to assess progress in local content achievement, either during the contract period or upon its completion.