Overview of In Kingdom Total Value Add (iktva) program
A bedrock of our strategy at Aramco is to create value in every aspect of our business, maximizing long-term economic growth and diversification.
End of 2015, Saudi Aramco launched the “In-Kingdom Total Value Add” (iktva) Program with the goal of increasing the added value by the local suppliers and supporting the local industry development. Iktva, in alignment with Saudi Vision 2030, is a Saudi Aramco strategic imperative and a value-creation program that will enable a globally competitive Saudi industrial base.
Through the In Kingdom Total Value Add (iktva) program, we are taking action 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 – quality jobs for a growing Saudi population, innovation and diversification of industry, and increased global competitiveness.
As well as driving domestic value creation, iktva prioritizes consistency and transparency to create a level playing field for more than 1000 suppliers we are engaged with across our local and international network.
Designed to amplify the efforts of our partners and our investments, iktva was developed and tested through extensive consultation, both in Kingdom and internationally.
For the program details along with the available opportunities, please visit the website.
Other useful links
The government of Saudi Arabia deeply values foreign investors and the prosperity they bring to the local economy. That is why the government offers attractive programs for investors doing business within the Kingdom.
Please visit the website of Saudi Arabian General Investment Authority (SAGIA), which illustrates in more details the incentives and opportunities in Saudi Arabia as well as providing guidance on obtaining the Investment License.
Please visit the website of the King Salman Energy Park, which will be operated and anchored by Saudi Aramco. The Company will build its Drilling & Workover Headquarters in SPARK, as well as operate its Procurement & Supply Chain Management Center from this hub.