Aramco Supplier Forum serves up business opportunities
In the first such event in Oceania, more than 100 participants gain valuable information on the company and its business opportunities.
The first-ever Aramco Suppliers Forum in Oceania was held June 2 in Perth, Australia. Hosted by Aramco Asia in coordination with Australian Trade and Investment Commission (Austrade), the forum served as a platform for Australian suppliers to gain first-hand knowledge of Aramco and its business opportunities.
The Perth forum attracted over 100 participants from different industries and technology sectors.
Ahmed A. Al-Sa’adi, Aramco’s executive vice president of Technical Services, noted that Aramco is embarking on its largest capital investment program in the history of the company.
“Australian companies are invited to participate in these projects and help us in achieving the goals of our company,” said Al-Sa’adi, emphasizing that the Kingdom, which owns strong expertise and competitiveness in its energy sector, is a market with huge potentials for Australian companies.
There is an enormous change happening right now in Saudi Arabia, and as a result, business is booming, new industries are rising, and the economy is expanding.
— Ahmad A. Al-Sa’adi
Outreach for partnership
Salem Al Huraish, Aramco’s vice president of Procurement, noted that one of the forum objectives was to present key materials and services that can be sourced from Australia and to engage with companies interested in joining our supply chain.
“We’re looking for companies that share our vision of sustainable growth and build strategic partnerships that create jobs and opportunity for both Australians and Saudis,” Al Huraish said.
During the forum, three Australian companies attracted the audience noticeably after presenting their success stories of establishing a supply base in Saudi Arabia and showcasing how localization policies positioned them for competitive advantage under Aramco’s In-Kingdom Total Value Add program (iktva) program.
“This supplier forum strengthens the Saudi-Australia energy-related partnerships, and allows for the transfer of new technologies,” commented Mutib A. Al Harbi, president of Aramco Asia, while appraising the forum. “Indeed, we are very excited, as this is our first supplier forum in Australia, and we hope to start a new journey toward a promising future.
Promoting ‘Vision 2030’ and iktva
Several transformation programs and opportunities related to Saudi Vision 2030, to attract international investment caught the attention of the audience in Perth. Under the same theme, the Saudi joint venture, DUSSUR, shared their programs and capabilities as an industrial investment partner.
Finally, Australia Trade and Investment Commission (Austrade) highlighted their approach and support for Australian companies wishing to do business in Saudi Arabia.
From Aramco’s side, investments and localization efforts are all structured through Aramco’s iktva program, which was introduced and explained to attendees.
There were also bilateral meetings and in-depth discussions on investments opportunities in the Kingdom. Other topics covered the opportunities in Aramco’s projects and upcoming tenders for both material and services.
Many of these one-on-one meetings focused on Aramco’s quality system and standards, explaining the company’s requirements and expectations for suppliers. Another subject of interest was on the registration and approval process of Australian suppliers as Aramco suppliers.
Two MoUs signed with Australian companies for localization
In parallel to the supplier forum, Al-Huraish signed two Memorandums of Understanding (MoUs) with Australian partners: Stolway Pty Ltd, a manufacturer of explosion-proofed HVAC and Chiller, and Aurora Labs, a multi-laser 3D printer manufacturer. Both will localize their business in Saudi Arabia soon, as Aramco Asia extends all necessary supports to these investments.
Caption for top photo: Ahmed A. Al-Sa’adi delivers a keynote speech at the supplier forum held in Perth, Australia, on June 2.