Saudi economy able to overcome COVID-19 repercussions efficiently: Aramco CEO

Amin bin Hassan Al-Nasser, President and CEO of Saudi Aramco

The Saudi economy proved its ability to overcome the repercussions of COVID-19 pandemic efficiently, Saudi Press Agency reported, citing Amin bin Hassan Al-Nasser, President and CEO of Saudi Aramco. 

He added that the Kingdom is witnessing changes in all fields, noting that the oil giant is proud of being a main driver of this change and supporter of sustainability and development. 

Aramco continues to maintain its operational excellence and strong financial position, as it posted an increase of 288% in Q2 2021 earnings, compared to the same period a year earlier. This reflects the company's flexibility and ability to adapt to conditions despite the challenges imposed by the coronavirus. 

Touching on Aramco Namaat, Al-Nasser said the program is expected to create an added value for the national economy, and it complements the role played by the company's in-Kingdom total value add (iktva) program, which aims to localize the local content and accelerate industrial growth in the Kingdom.  

Through iktva, Aramco managed to meet 57% of its needs from local suppliers with global competitive capabilities, the top executive said. 

He concluded that Aramco made an achievement globally by advancing 63 positions in the Future Brand Index 2021, moving from the 91st position in 2020 to the 28th this year.