Minister of Industry and Mineral Resources and Chairman of the Local Content and Government Procurement Authority, Bandar Alkhorayef, expressed his gratitude and appreciation to the Ministry of Industry and Commerce in the Kingdom of Bahrain for its productive collaboration in opening registration for Saudi establishments wishing to register their products in Bahrain’s In-Country Value Program, Takamul. This program aims to enhance local content value and preference in government procurement.
This step contributes to stimulating and empowering Saudi national industries within the framework of the distinguished brotherly relations between the Kingdom of Saudi Arabia and the Kingdom of Bahrain, and boosting the economic integration between the two brotherly countries.
He stressed that goods manufactured in the Kingdom of Bahrain, which meet the requirements of the national origin rules issued by Ministerial Decision No. 3852, will be treated as Saudi national goods, thereby allowing them to benefit from local
content preference mechanisms according to relevant regulations and requirements.
The minister noted that this approach aligns with the results of the third meeting of the Saudi-Bahraini Coordination Council, chaired by HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, and HRH Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister of the Kingdom of Bahrain. This is in line with the strong and historic ties between the two countries and their people.
Alkhorayef pointed out that this step will contribute to enhancing trade exchange, stimulating national industry in both countries, providing more investment opportunities, attracting foreign investments, and enhancing the added value of national products. He praised the efforts of the Ministry of Industry and Commerce in Bahrain to boost cooperation with Saudi Arabia in various fields, emphasizing the Kingdom’s commitment to enhancing cooperation with Bahrain in all fields to achieve development and prosperity f
or both countries and their people.
Source: Saudi Press Agency