Saudi LCGPA adds 205 local products worth $910m
, July 4, 2024
Saudi Arabia’s Local Content and Government Procurement Authority (LCGPA) has added 205 new national products worth SR3.4 billion ($910 million) across 11 vital sectors, in an effort to empower national products and factories.
LCGPA’s update includes 20 products for the building and construction sector, 34 products for the medicines and medical preparations sector, 103 products for the medical supplies sector, 8 products for the chemicals and fertilisers sector, 9 products for the food and agricultural products sector, 11 products for the furniture sector, 6 products for the stationery and office tools sector, 6 products for the plastic consumer products sector, 4 products for the transportation and logistics services sector, 3 products for the personal and household equipment and supplies sector, and 1 product for the paper consumer products sector, a Saudi Press Agency report said.
The authority stated that upgrading the list is part of its efforts to activate the mechanisms specified by the list of preference for local content, small and medium enterprises, and companies listed on the financial market in business and procurement.
460 beneficiary factories
It noted that 460 beneficiary factories have the production capacity to meet government demand, with the expected volume of government spending exceeding SR3.4 billion.
The authority also indicated that the products were identified and included in the mandatory list in cooperation with the Ministry of Industry and Mineral Resources, the Saudi Standards, Metrology, and Quality Organisation, the Expenditure and Projects Efficiency Authority, and the Council of Saudi Chambers. This selection was based on criteria such as the quality and production capacity of national factories and the number of manufacturers of these products.
The authority calls on specialised national factories to submit applications to include new products in the sector’s mandatory list, provided they conform to the standards and specifications mentioned on its website.--TradeArabia News Service
