Local Content Authority urges SMEs to apply for certificate incentive scheme
Saudi Arabia's Local Content Authority is encouraging small and medium factories to benefit from an initiative that subsidizes local content certification costs.
The Local Content Authority in Saudi Arabia is urging small and medium-sized factories to apply for a certificate incentive scheme. The initiative, run by the Local Content and Government Procurement Authority, offers subsidies for local content certification costs. The goal is to enhance the competitiveness of these companies in government procurement and give preference to their products over those of competitors.
The Local Content Certificate Incentive Initiative covers full or partial costs associated with local content audits, which are performed by authorized audit firms. This measure helps alleviate financial burdens on factories while supporting the expansion of the local industrial sector and increasing the percentage of local content in government projects.
By participating in the initiative, factories can expect to see an increase in purchase requests directed their way, gain preference over competitors in government procurement, and have the costs of local content audits fully or partially covered by the audit firms.
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