State oil giant Saudi Aramco is set to host the second iktva (In-Kingdom Total Value Add Program) Forum 2016 on December 14 in the city of Dammam which will highlight the major localisation initiative and its benefits to Saudi Arabia’s economy.

The event will provide an opportunity for two-way dialogue between the company and its key and strategic suppliers as the kingdom commemorates the first anniversary of the launch of its localization initiative.

 Saudi Aramco will share its vision for the future of the energy sector with an update on major projects and initiatives that support iktva, such as local manufacturing, training and development, and attracting increased investment to the Kingdom.  

Saudi Aramco president and chief executive Amin H. Nasser said the upcoming forum will mark a major milestone in the trajectory to accelerate localisation amongst Saudi Aramco’s supplier community.

Iktva 2016 will provide a clear path towards a diversified and sustainable Saudi energy sector as envisioned by Saudi Vision 2030. Through a collaborative win-win approach with the private sector, distinguished suppliers and service providers are recognized with Saudi Aramco iktva Excellence Awards.

"Our aim is to enable tangible opportunities in engineering, manufacturing, innovation, technology, human capital development, job creation and also serve to strengthen the culture of entrepreneurship in the Kingdom," he noted.

The event will also include the first annual iktva Excellence Awards which will be presented in recognition of the most significant commitment, investment, and progress in localization.

Abdulaziz AbdulKarim, the VP (Procurement & Supply Chain Management) said: "Tthe forum will recognize excellence and commitment to value creation in the kingdom by eligible suppliers from within its network as demonstrated in five categories to honour those suppliers’ success and commitment towards localization, local workface development and value creation."-TradeArabia News Service