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FinancialNews


  • 27-02-18

    Saudi Aramco investment in SMEs reach USD12bn per year

    (MENAFN) Saudi Aramco was revealed to have invested USD12 billion per year on over 4,000 SMEs over the past recent years, directly or by its supply chain.

    Aramco's VP for Procurement & Supply Chain Management Abdulaziz Al Abdulkarim explained the purpose behind such spending is to stress the significance of SMEs to be provided with an ecosystem to undergo development and growth.

    He also pointed out the importance of SMEs growth in supporting Saudi Arabia's economy and push for a sustainable growth.

    During his speech at the Armed Forces Exhibition for Diversity of Requirements and Capabilities (AFED), he noted "this exhibition is a great opportunity to explore avenues of partnership and collaboration to localize industries and increase the share of local content as outlined by the kingdom's ambitious roadmap Vision 2030."

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