A bedrock of Saudi Aramco’s strategy is to create value in every aspect of our business, maximizing long-term economic growth and diversification.
In late 2015, Saudi Aramco launched the “In-Kingdom Total Value Add” (iktva) Program with the goal of increasing the added value by the local suppliers and supporting the local industry development. Iktva, in alignment with Saudi Vision 2030, is a Saudi Aramco strategic imperative and a value-creation program that will enable a globally competitive Saudi industrial base.
Through the In Kingdom Total Value Add (iktva) program, we are taking action to drive additional domestic value creation to support a rapidly changing economic environment and foster future prosperity.
Working with our suppliers, we will capture value that produces long-term tangible benefits – quality jobs for a growing Saudi population, innovation and diversification of industry, and increased global competitiveness.
As well as driving domestic value creation, iktva prioritizes consistency and transparency to create a level playing field for more than 1000 suppliers we are engaged with across our local and international network.
Designed to amplify the efforts of our partners and our investments, iktva was developed and tested through extensive consultation, both in Kingdom and internationally.
For the program details along with the available opportunities, please visit the website. https://iktva.sa/
Other useful links
Below are some useful links for you to find investment opportunities in the Kingdom.
- Please visit the website of IKTVA, https://iktva.sa/ to find out more about the “In-Kingdom Total Value Add” (iktva) Program.
- Please visit the website of Saudi Arabian General Investment Authority (SAGIA) , https://sagia.gov.sa/en/ , which illustrates in more details the incentives and opportunities in Saudi Arabia as well as providing guidance on obtaining the Investment License.
- Please visit the website of the King Salman Energy Park, https://spark-ksa.com/ , which will be operated and anchored by Saudi Aramco. The Company will build its Drilling & Workover Headquarters in SPARK, as well as operate its Procurement & Supply Chain Management Center from this hub.
At the same time, Aramco Japan is working with potential investors to promote iktva program and as result of these effort, many Investment Plans are under evaluation and we continue to receive more and more proposals from Japanese suppliers.