Mr. Yahya Abu Shal, Aramco’s Senior Vice President of Project Management, has been working with contractors and suppliers from Southeast Asia for many years and “looks forward to prequalifying more companies from the region and develop long-term successful relationships through upcoming projects.”
During the summit, participants learned from Aramco Procurement and Supply Chain Management experts about the company’s new initiatives and new suppliers’ qualification criteria and processes.
Existing Aramco suppliers from the Southeast Asia region also shared how partnering with Aramco has improved their competitive edge and positioned their companies for growth.
Localization opportunities
With the growth of Aramco’s global business, as well as Saudi Arabia being one of the fastest growing economies in the world, the Saudi local supply chain development remains key. Aramco experts shared about Aramco’s localization program, the In-Kingdom Total Value Add program (iktva), and how it can create win-win propositions for suppliers and Aramco.
The Saudi Arabian Industrial Investments Company (Dussur) also presented on the investment environment in Saudi Arabia, as well as their programs and capabilities to support industrial investment partners.
At the end of the supplier summit, participants had the opportunity to connect one-on-one with experts in sourcing, localization, investment programs, and supplier registration.
Alongside the supplier summit, Aramco executives also held business meetings with key stakeholders in the region such PetroVietnam, Daihen Electric, Shandong Haiwang Chemical, Tri-Star Industries, Martech, TTCL, PTSC, WEC, Dai Dung Corporation, PVSB, Jurong Engineering, and SOVICO. The meetings allow Aramco to strengthen relationships with partners to drive greater value across one another’s businesses.
Through platforms like the supplier summit, Aramco hopes to help suppliers seize the right opportunity, while building a robust and reliable supply chain in Saudi Arabia.
