Riyadh – Mubasher: The Local Content and Governmental Procurement Authority has inked a cooperation agreement with Zamil Air Conditioners and Home Appliances Co., a subsidiary of Zamil Industrial Investment Co., to develop and increase local content in the Saudi manufacturing sector.

The collaboration aims to reach the highest potential and enhance domestic spending in line with the strategic goals of the two parties, according to a stock exchange statement on Wednesday.

Under the deal, the authority will develop a comprehensive strategy and programme for developing local content that includes proposed amendments to the unit’s procurement regulations and systems.

Moreover, it will prepare a framework for improving manufacturers and suppliers that deal with the company.

Furthermore, Zamil Air Conditioners will define and identify investment opportunities to develop local content in the materials and goods produced by the company, as well as its services, which the authority can take advantage of to raise the percentage of local content in each of them.

Additionally, the company will not only share previous procurement data and expected future needs for related materials and services with the authority but will also share the best practices and experiences of the two parties, the statement read.

Noteworthy, this agreement is part of a series of cooperation agreements in various sectors, signed by the authority with several organisations from the public and private sectors to develop local content and increase its share in the contracts and purchases of government sectors.