LCGPA mulls to expand coverage to private sector, individuals: CEO

Currently, it aims to expand its coverage to include the private sector and individuals, enhancing their focus on local demand, he noted.

Al Samari highlighted the growing interest in the authority's programs this year, as several companies launched new programs to support their shift towards local content.

He added that such programs create significant opportunities for small and medium-sized enterprises (SMEs) through directing demand towards local factories and services, thus fostering industry localization and knowledge transfer.

The authority is working with its partners to develop laws and policies supporting strategic products and enhancing the flexibility of the national economy.

Al Samari underscored LCGPA's efforts to achieve integration between the public and private sectors through innovative tools and mechanisms, which contributes to strengthening the national economy and addressing future challenges.

The authority also focuses on strategic priority sectors, such as pharmaceuticals, the CEO said, noting a recent agreement to localize insulin production in the Kingdom, a major step towards achieving national pharmaceutical security.

Further, the official highlighted the launch of the "Golden Category" under the "Made in Saudi Arabia" program to stimulate companies and individuals to support products and services with high local content.

Al Samari also revealed that 50 strategic agreements were signed to activate contracting methods and ensure government demand for several years in exchange for localizing industries and services.

He noted that COVID-19 crisis showed the importance of having local supply chains and the ability of the economy to manage challenges.