Aramco has announced that its iktva program has achieved 70% local content in its procurement of goods and services. This progress translates into thousands of jobs, more foreign investment and a significant boost to Saudi Arabia’s economic development.
Since its inception a decade ago, iktva (In-Kingdom Total Value Add) has been the cornerstone of Aramco’s localization strategy. Thanks to this effort, more than $280 billion has been injected into the Kingdom’s gross domestic product. In addition, the program has stimulated the installation of more than 350 factories with investment from 35 countries, strengthening the national productive infrastructure.
Employment, investment and vision to 2030
The localization approach has generated more than 200,000 direct and indirect jobs and has attracted US$9 billion in international investment. The opportunities identified within the program cover 12 key sectors, with an estimated $28 billion annual market.
The company has set a new target to reach 75% local content in its procurement processes by 2030. This objective reinforces the Saudi national vision of productive autonomy, strengthening of the industrial fabric and sustainable economic development.
During periods of crisis or logistical disruption, the localization strategy has allowed Aramco to Aramco ensure operational continuity and hedge against global inflation. Building internal capabilities has been vital to maintaining the reliability and efficiency of its supply chain.
International expansion of the iktva program
In 2025, Aramco organized eight regional forums outside the Kingdom as part of the program’s international push. These events served to link global suppliers with manufacturing and localization opportunities in Saudi Arabia, reinforcing the role of iktva as a bridge between local development and global investment.
Likewise, with the manufacture of 47 strategic products for the first time in the country, the impact of the program is not only economic, but also technological and structural, by establishing new capabilities that did not exist before.
The company demonstrates that a long-term strategic approach can translate into real benefits for an entire nation.
Source: Aramco
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