Aramco’s iktva forum and exhibition kicks off in Saudi Arabia

Aramco’s iktva forum and exhibition kicks off in Saudi Arabia
Aramco’s iktva forum and exhibition kicks off in Saudi Arabia

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Jeddah - Yasmine El Tohamy - DHAHRAN: Dhahran Expo Center will host Saudi Aramco’s seventh edition of the annual ‘In Kingdom Total Value Add,’ or ‘iktva’ forum and exhibition on Jan. 30. 

The four-day event will enable participants to visit designated exhibition pavilions for enablers, digital, sustainability, industrial and manufacturing, as well as investment workshops and various panel discussions. It will conclude on Feb. 2.

The 2023 theme will be: “Accelerating Future Success,” which aims to strengthen their readiness and resilience for tackling the upcoming calendar year by forging their collective localization efforts in different focus areas, such as sustainability, digital, industrial, manufacturing, and others. 

As a major contributor to the commercial and industrial sectors of the Kingdom, the local supplier ecosystem remains a top priority in Saudi Aramco’s long-term planning. 

With adding over SR488 million ($130 billion) to Saudi Arabia’s gross domestic product since its launch, iktva continues to accelerate economic growth, enhancing the value of their supply chain. Through collaboration at the forum and beyond, iktva invites entities to come together and play an important role in providing the vital energy the world needs. 

This annual gathering is designed to help the community further innovate, collaborate, and network.

Under the patronage of Prince Saud bin Nayef bin Abdulaziz, Governor of the Eastern Province, the all-day events will include an array of 30 workshops; including sessions on cloud computing, blockchain, holographic technologies, enterprise cyber security, artificial intelligence and SPARK, a world class energy hub, investment opportunities in the electrical and in the industrial sectors, among other talks.

There will be a session led by the Aramco localization team, who will share opportunities related to connectivity, communication and computing. It’ll also provide ample chances for engagement with businesses committed to boosting local content within the Saudi energy economy. 

According to the official statement, the program aims to drive additional domestic value creation to support a rapidly changing economic environment and foster future prosperity. "Working with our suppliers, we will capture value that produces long-term tangible benefits such as quality jobs for a growing Saudi population, innovation and diversification of industry, and increased global competitiveness,” it added.

On the occasion, Aramco’s president and CEO Amin H. Nasser said: “With a foundation of localization and resilience as our blueprint, we are building an ecosystem of critical importance. One that will help further diversify the Kingdom’s economy and ensure we meet our responsibility to the world, and the billions who depend on us for energy. For all these reasons, we must build it with care, with the belief that generations from now, what we are building will still be standing strong.”

Since the launch of the iktva program in 2015, iktva’s program was designed to drive supply-chain efficiency and value across Aramco’s operations and has created best-in-class infrastructure, streamlined business processes, and pioneered industry initiatives that ensure sustainability and enabling new opportunities. It has also encouraged the development of a diverse, sustainable and globally-competitive energy sector within the Kingdom.

In 2022, iktva’s action plan and support supervisor, Majid Al-Mohammed said at a local content forum in Riyadh that the “iktva program has been gradual in several stages; starting with supportive merchants and suppliers of goods, then supporting service providers and moving to support manufacturers in the Kingdom.” 

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