Annual Supplier Forum in Houston promote Kingdom’s business climate.
Mohammad A. Alshammary delivers the keynote speech at the 2023 Supplier Forum in Houston.
An expert panel of global dignitaries, U.S. corporate leaders, and Aramco executives illustrated the climate for doing business in Saudi Arabia’s energy sector at the 2023 Supplier Forum in Houston.
The annual event, co-hosted with the U.S. Chamber of Commerce, coincides with the Offshore Technology Conference to maximize on the energy industry presence. Procurement and Supply Chain Management (P&SCM) set their sights to recruit strategic suppliers with Aramco’s shared high standards.
More than 260 oil and gas industry leaders attended, hearing testimonials affirming the potential returns on an investment with Aramco.
Mohammad A. AlShammary, senior vice president of P&SCM, delivered keynote remarks to manufactures and suppliers.
“We plan to open doors by enhancing the business environment and driving investment; creating opportunities for Saudi jobseekers, entrepreneurs, and international businesses. All contribute toward building an integrated supply chain and attracting new capabilities to Saudi Arabia.”
— Mohammad A. AlShammary
“These efforts are aligned and structured through Aramco’s In-Kingdom Total Value Add program, which strives to develop a globally sustainable and competitive energy sector in Saudi Arabia,” AlShammary added.
Iktva Drives Supply Chain Sustainability
The comprehensive program, known as iktva, drives supply chain sustainability across the procurement of local goods, services, hiring, training, as well as research and development. The program focuses on emerging areas such as ESG and exports growth. Additionally, Aramco’s portfolio includes 90 projects scheduled through 2025, which creates a need for new partnerships and new materials.
“A roster of strategic vendors fulfills sourcing needs for Aramco to maintain an efficient, resilient supply chain and to sustain its standing as a world’s leading integrated energy and chemical company,” said Ammar I. Mubarak, director of P&SCM Aramco Americas.
Encouraging Free Trade and Enterprise
Overall, the Supplier Forum strengthens the Saudi-U.S. energy relationship while encouraging free trade and enterprise. David Edginton, U.S. Consul General in Dhahran, expressed his support of the growing commercial relationship between the two countries.
“Today, hundreds of American companies do business with Aramco, and thousands of Americans work for the company,” said Edginton.
“This partnership continues to grow stronger with the opening of our new $380 million consulate in the Eastern Province, continues to be one of the most important parts of our bilateral relationship.”
— David Edginton
A panel discussion and one-on-one meetings completed the daylong forum. Attendees received answers from experts in sourcing, localization, investment programs, and supplier registration. Aramco hosts several investment forums each year with Aramco Americas serving as the liaison between Aramco and their partners.
— The Arabian Sun: May 14, 2023