The Launch of Aramco Digital Company

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His Royal Highness Prince Saud bin Nayef bin Abdulaziz, Governor of the Eastern Province, today, Monday morning, inaugurated the activities of the seventh edition of the program for the enhancement of the total added value of the supply sector (Iktva), in the presence of His His Royal Highness His Royal Highness Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Energy, and a large crowd His Highness the Emir of Eastern Province praised the Iktva Forum and its presentations over the past six editions, making it one of the most important programs for the promotion of local content, localization of technology and industry, and a major contribution to the promotion and development of Saudi industries.

His Highness, the Emir of the Eastern Region, said: “The world is developing on a daily basis and keeping pace with these developments is an urgent need to secure local supply chains, as the interest in strengthening the local manufacturing system has become an important pillar in the success of the industry and its role in achieving development and growth in all countries of the world, and what we have witnessed in this edition of (enough) indicates the development of local industry and sons and daughters of the country who play a positive and important role in raising the level of domestic product.

During the inauguration, Saudi Aramco signed more than 100 agreements and memorandums of understanding, worth an estimated 27 billion riyals ($7.2 billion), to help develop a diversified and sustainable industrial system that has global competitiveness . The sufficiency program was able to increase the localization rate of local content to 63% in 2022, up from 35% in 2015 when the program launched.

The forum and exhibition will run from 30 January to 2 February, with the theme “Accelerating the Pace of Future Success” to highlight Emiratization efforts in key areas including digitalization, sustainability, industry and industrialization. The first day saw the turnout of over 10 thousand visitors and among the activities there is an exhibition in which more than 290 companies participate.

During IKTVA, Saudi Aramco announced the launch of Aramco Digital Company (ADC), a wholly owned subsidiary that will accelerate digital transformation in the Kingdom and the Middle East and North Africa region.

Commenting on this, Saudi Aramco Executive Vice President of Technical Services Ahmed Al-Saadi said, “The local supplier system is a top priority for Saudi Aramco, as it contributes significantly to the economy of the Kingdom. Through this huge programme, we are helping to foster a culture of innovation and pave the way for providing high-quality jobs for many Saudis. The launch of Aramco Digital is a prime example of innovation, bringing the latest artificial intelligence technologies and emerging technologies in this vital sector of the economy”.

The Supplier Sufficiency Program encourages the establishment of regional offices in the Kingdom. More than 150 investments have been made since its inception, including products manufactured for the first time in the Kingdom. The company has also established 16 national training centers in 10 cities in the Kingdom, covering more than 60 business sectors, and has graduated more than 48,000 Saudi trainees so far.

Major iktva program deals include:

Zoom Company: Strategic Partnership Agreement.

Tulia Company: Collaboration to implement supplier financing solutions.

DHL: Intent to enter into a definitive agreement to establish a joint venture, providing supply chain and procurement services.

Saudi Ministry of Investments: Development and promotion of investment opportunities and regional headquarters program.

Accenture: System Integration and Digital Solutions Services.

Hasanah Investment Company: Creation of a leading domestic facilities management company.

Achilles Company: development and localization of environmental, social and governance classification services.

The winners of the iktva program for the year 2023:

Award for the best overall performance in the Iktva program (services): Schlumberger.

Top Overall Performance in iktva Program (Construction): Nesma & Partners Contracting Co. Ltd.

Highest overall performance in the iktva program (production): Siemens Energy.

Best in Training and Development Award: Halliburton.

Best Supplier Development Award: Baker Hughes.

Best in Saudization (Services): Arabian Drilling Company.

Best in Saudization (Production): Cameroon Al-Rasheed Co. Ltd.

Best in Exports (Services): GGC Gulf International Limited.

Best in Exports (Production): Jubail Energy Services Company “JESCO”.

Environmental, Social and Governance Best Practice Award: Samsung Saudi Arabia Limited.

Best Small and Medium Enterprise Award: Engineering Corner Company for Testing and Inspection Ltd.

Best Small and Medium Enterprise Award: Saudi Geophysical Society.

Best Small and Medium Enterprise Award: Technical Rubber Company Limited.

Source Al-Madina News Paper, Read More About: Technology News

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