Energy Localization Forum Concludes with SAR104 Billion in Agreements for Saudi Arabia’s Energy Sector
Riyadh, October 25, 2024 — The Energy Localization Forum, organized by Saudi Arabia’s Ministry of Energy, wrapped up with a landmark outcome, resulting in 107 agreements and memoranda of understanding valued at SAR104 billion. The two-day event, held under the theme “Resilient Energy: Enabling Energy Sector Capability and Sustainability,” attracted key stakeholders to discuss and drive forward initiatives in localization, technology transfer, and innovation within the energy sector.
The forum focused on achieving ambitious localization targets with robust government support for building resilient industrial supply chains, alongside addressing the challenges and developing strategies essential for long-term sustainability. Discussions delved into progress and practical strategies in localizing energy supply chains and the role of cutting-edge technology in fostering resilience and growth in the sector.
Moreover, the forum underscored the importance of Saudi Arabia’s supportive environment for investments in the energy industry. Participants examined the Kingdom's past achievements, shared experiences, and outlined future strategies for strengthening both the national economy and global supply chains through the localization of essential energy components and infrastructure.
