H.E. Eng. Saad bin Abdulaziz Al-Khalb, CEO of Saudi EXIM Bank, stressed that exporting serves as a driving force behind developing local content, increasing its economic viability, and attracting investments. This statement was made during H.E.'s participation in a panel discussion titled "Integration of Government Efforts in Developing Local Content," held as part of the second edition of the Local Content Forum, in Riyadh.
He noted that the bank has provided credit facilities exceeding 60 billion Saudi Riyals over the past four years (since its establishment), impacting the GDP of approximately 150 billion Saudi Riyals. He explained that the bank has 18 products dedicated to empowering Saudi non-oil exports at all stages, indicating that the fulfillment of local content requirements is the primary condition for obtaining these facilities, making Saudi EXIM Bank a vital element in local content growth.
He further explained that the key factors for enhancing the competitiveness of local content in regional and international markets depend on two main pillars: quality and cost. This is what the integrated initiatives between government entities and the private sector aim to achieve. Additionally, he affirmed the success of many Saudi products and services in regional and international markets, indicating their competitive ability. He also highlighted the challenges facing industries, especially advanced or transformative ones, such as the need for various production inputs both locally and globally, supported by reliable supply chains. This underscores the bank's role in enhancing local content by securing global supply chains. The bank works closely with the Ministry of Industry and Mineral Resources to find and secure critical minerals for the Kingdome through financing global supply chains.
