Energy Localization Forum Concludes in Riyadh

The Energy Localization Forum, hosted by the Ministry of Energy, concluded yesterday with the signing of 107 agreements and memoranda of understanding worth SAR104 billion. The two-day event, held under the theme "Resilient Energy: Enabling Energy Sector Capability and Sustainability," aimed to boost localization efforts, transfer technology, support innovation, and develop human capital in the energy sector. Participants discussed achieving localization ambitions through government support for industrial supply chains and reviewed the progress made in localization efforts. Challenges facing supply chains and strategies for developing and sustaining them were also addressed. The forum highlighted the role of localization in empowering the energy sector, enhancing flexibility, and strengthening both national and global economies. Participants explored future opportunities for localizing energy sector components and utilizing modern technologies. The Kingdom's supportive environment for investment in the en ergy sector was emphasized, with a focus on past successes, current experiences, and future plans to enhance supply chains and national infrastructure. Source: Saudi Press Agency