The Saudi economy is more solvent and able to overcome the effects of the pandemic efficiently and effectively. The Saudi Press Agency


Dhahran, Safar 14, 1443 AH, corresponding to September 21, 2021 AD
Saudi Aramco reviewed programs and initiatives that contribute to advancing economic diversification and localizing the industrial supply chain, in order to achieve the goals of the Kingdom’s Vision 2030, and in light of the nation’s ambitious vision to contribute to the national economy.
The President and Chief Executive Officer of Saudi Aramco, Amin bin Hassan Al-Nasser, stated that the National Day this year comes and the Kingdom is witnessing changes in various fields. Those programs are the Aramco Industrial Investments Program, where we signed 22 new memoranda of understanding in addition to a joint venture agreement, focusing on value creation in four main areas: sustainability, technology, industrial services, and advanced materials.
Al-Nasser drew attention to the fact that the (Aramco Namaat) program is expected to create an added value for our national economy, and it complements the role played by the Saudi Aramco program to enhance the total added value of the supply sector in the Kingdom (IKTVA), in localizing local content and accelerating industrial growth in the Kingdom. Through it, we were able to provide 57% of our needs from suppliers from within the Saudi market with global competitive capabilities.
He pointed out that out of the confidence that the Kingdom has fostered among investors, many results have been achieved that have been reflected in more important international partnerships, and with the signs of economic recovery during the emerging Corona Virus (Covid-19) pandemic, the Saudi economy has proven that it is more solvent and able to overcome the effects of the pandemic in every way. Efficiency and competence, stressing that Saudi Aramco will continue its operational excellence and confirm the strength of its financial position, as it recorded during the second quarter of 2021 AD an increase in its profits by 288% compared to the second quarter of last year, and this reflected the company’s flexibility and ability to adapt despite the challenges imposed by the variables of the (Covid virus) virus. -19).
Al-Nasser stated that in order to achieve more value for our country and its overall economy, the listing of Saudi Aramco in the Saudi financial market contributed to the progression of the Saudi financial market’s ranking from twenty-third to ninth, to become one of the ten largest financial markets in the world, pointing to Saudi Aramco’s achievement of a global achievement. Its exceptional progression of 63 positions in the Future Brands Index for the year 2021G, to occupy the 28th position, compared to the 91st position in the year 2020.
And he indicated that the inauguration of a new edifice of renaissance and development, the Academy of Financial and Accounting Excellence, which is the first center of its kind for graduates of finance and accounting, comes to keep pace with the objectives of the desired national vision in developing human resources, and enhancing their skills to make them more capable of making the national future, and this academy accommodates the transformations The great deal that the Kingdom is witnessing in its various economic sectors by injecting invaluable human capital into the fields of finance and accounting in the Kingdom.
Al-Nasser stressed that the Kingdom ranked second globally among the G20 countries in the Digital Competitiveness Report for the year 2021 issued by the European Center for Digital Competitiveness, and this progress represents the Kingdom’s continuous digital leadership. With the growing pace of shift towards digital solutions, we have signed a partnership contract with Google to provide high-performance and high-speed cloud services (Google Cloud) to enterprise customers in the Kingdom, and to help companies and organizations throughout the Kingdom to maximize their market presence, and to provide faster and more reliable digital products and services.
He noted that Saudi Aramco’s national role is not only focused on its efforts in the field of infrastructure and industrial development, but also includes empowering local communities and their members to find more opportunities to shape their own economic future, by translating these concepts into initiatives that we launched to support the small industries sector in the Kingdom. Activating capabilities to make a positive and tangible difference in people’s lives through citizenship projects and voluntary activities. He explained that every year, we celebrate the fruit of a new project that arises from the ideas of society and enjoys the support and sponsorship of Saudi Aramco, as in the project of the sectarian rose factory “Roziar”, which is an extension of projects implemented by the company in partnership with a number of local charities, such as the initiative to empower women and train them in sewing skills. Providing support to fishermen, producing honey, and establishing a national research center for coffee cultivation, which began as an initiative in one region to expand and include today seven other regions throughout the Kingdom, through which farmers were trained on the latest methods of sustainable agriculture.
The President of Saudi Aramco concluded his speech by emphasizing that the Kingdom will go on the path of vision and prosperity on the same path of national development and growth, and we continue – God willing – to reap achievements year after year to celebrate them on our National Day, which is a source of inspiration and an energy of achievement in which we make everything impossible possible. With God’s help – then with the support of our wise leadership, and the determination of our people, which is comparable to Mount Tuwaiq and the handshake of the clouds’ hammam.
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22:23 PM


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