Local content
Definition of Local Content Utilizing national resources and capabilities in products, services and projects. including human resources, materials. and domestic technologiesWith the aim of strengthening the national economy, supporting local companies, and stimulating innovation and investment within the Kingdom.
The Saudi Local Content System seeks to support the national economy and encourage companies to rely on local resources and cadres. The importance of this system is to enhance the competitiveness of Saudi companies. and protection of their rights. and ensure that they adhere to legal standards.
The Importance of Local Content in Saudi Arabia
Local content is one of the main pillars that the Kingdom is focusing on to achieve Vision 2030. By enabling legal and industrial companies to capitalize on local resources. and support national projects. and contribute to the creation of new job opportunities.
According to the system. Companies are required to commit to a certain percentage of local content in their contracts and projects. This will promote local investment, reduce dependence on foreign suppliers, and stimulate local innovation.
Law firms play a pivotal role in this regard. Through:
- Providing legal consultations to ensure companies comply with the required local content percentage.
- Structuring and drafting contracts and agreements to align with regulatory requirements while ensuring the protection of all parties’ rights.
- Advocating on behalf of companies before official authorities to ensure full compliance with Saudi laws and regulatory frameworks.
By committing to localized content. Companies can boost their growth. and protect their investments. and contribute to the development of the national economy. At Itqan, we provide integrated expertise to ensure your company is compliant with the Saudi Local Content Regulation and support your legal strategies efficiently and professionally.