Saudi energy and chemical giant Aramco has announced a major milestone for its supply chain transformation program, iktva (In-Kingdom Total Value Add), achieving its target of 70% local content. The company also revealed plans to raise this figure to 75% by 2030, signalling an ambitious push to deepen domestic industrial development.

 

Since its launch, iktva has contributed more than $280 billion to the Kingdom’s GDP, reinforcing Saudi Arabia’s economic diversification and long-term fiscal resilience. By localizing goods and services, the program has strengthened supply chain reliability, reduced vulnerability, and provided a buffer against global cost inflation—critical advantages during periods of disruption.

 

Amin H. Nasser, Aramco President & CEO, said: "I am immensely proud of the transformational effect iktva has had on Aramco and its positive impact on Saudi Arabia’s economy. This announcement marks a major milestone in the program’s journey and reflects an important leap in the Kingdom’s industrial development, which is largely aligned with our ambitious national vision. iktva is a core pillar of Aramco’s strategy to build a competitive national industrial ecosystem that supports the energy sector, while also enabling broader economic growth and creating thousands of job opportunities for Saudi nationals. 

 

"By localizing the supply chain, iktva ensures operational reliability while mitigating disruption. Its 10-year cumulative impact reflects the depth and sustainability of the value it continues to generate.”

 

Over the past decade, iktva has become a leading model of supply chain-driven economic transformation, converting Aramco’s project spending into domestic economic growth, job creation, productivity gains, and export stimulation.

 

The program has identified more than 200 localization opportunities across 12 sectors, representing an annual market worth $28 billion. These efforts have catalyzed 350 investments from 35 countries, totaling $9 billion in capital, and enabled 47 strategic products to be manufactured in Saudi Arabia for the first time.

 

In addition, iktva has supported the creation of over 200,000 direct and indirect jobs, further bolstering local capabilities. To sustain momentum, the program held eight regional supplier forums worldwide in 2025, connecting global investors, manufacturers, and suppliers with Saudi Arabia’s localization opportunities alongside its flagship biennial forum.