The Saudi Local Content and Government Procurement Authority has revealed that it is currently working on developing policies, and systems and regulations; setting targets; and measuring the economic impact of local content and its contribution to the national product in accordance with a Saudi strategy to find a balance between developing local content with the highest efficiency and the lowest cost. The Authority works on finding balance between developing the local content and the cost, ensuring the highest efficiency of local content at the best cost,” Dr. Ghassan al-Shibl, chairman of the Local content and Government Procurement Authority, told Asharq al-Awsat. He explained that the Authority aims to develop local content with all its components at the level of national economy, improve the work of government procurement and follow it in accordance with the systems and regulations in force. Shibl stressed the Authoritys ambitious aspirations to let the Kingdom become a role model in raising the level of local content and enhancing its contribution to economic development in line with the full automation of government procurement processes to enhance transparency and achieve efficient spending. He also pointed to the decision to form a board of directors to the Authority that supports its plans to achieve a series of indicators and msintains consistency with the objectives of the Kingdom’s Vision 2030, mainly to increase the percentage of local content in the final expenditure of the non-oil sector. Shibl expected this decision to contribute to increasing the share of local content in the Kingdom’s entire government procurement and raising the economic value of localization opportunities in the local content, which helps generate jobs and localize strategic industries in a systematic way. The Authority was established by a royal order late December 2018. It works on setting policies, systems and regulations, setting targets, measuring the impact of local content and raising its contribution to the GDP. The Saudi cabinet has recently issued a decision to form the board of directors for the Authority, including the financial, economic, planning, commerce and investment, energy, industry and mineral wealth, in addition to the General Authority for Military Industries. The decision included the appointment of specialists in the board of directors, having expertise in areas related to the Authority’s work.