Saudi authorities have signed agreements with big retail stores in the kingdom to promote the ‘Made in Saudi Arabia’ program, which has resulted in some retail stores fill 70 percent of their stocks with locally manufactured products.
Under the agreements, signed by Saudi Exports Development Authority, large stores allocate platforms and outlets for Saudi-made goods “with the aim of enhancing the aspect of pride and loyalty in national industries by directing purchasing power towards them”, a media report said.
The Minister of Industry and Mineral Resources, Chairman of the Board of Directors of the Saudi Exports Development Authority, Bandar bin Ibrahim Al-Khorayef stressed during his visit to the major retail stores in Riyadh the importance of highlighting Saudi products and giving them priority.
He said major retail stores are an important part of the journey to maximizing the value of local content, and increasing the spread and popularity of national products in the local market.
Al-Khorayef said that the national products displayed in some retail stores in the local markets amount to account for 70 percent of more than 128,000 items.
He said the industry and mineral wealth system works with major national stores, helping them to find products from within the Saudi market through national factories, and raising the percentage of its presence in distribution points, and finding logistical solutions through the services provided by the Saudi Authority for Industrial Cities and Technology Zones (MODON) in order to facilitate the process of storing products and delivering them to local markets.
He said promoting national products in local markets is vital for the growth of the national economy and diversifying the economic base.