العربية

Empowering Towards Leadership

NUSANED™ Annual Report 2023

“The developmental approach in the Kingdom aims to create a comprehensive and sustainable renaissance, centered around and targeted at the human who will manage the development of the present and create the development of the future with knowledge.”

Custodian of the Two Holy Mosques
King Salman Bin Abdulaziz Al-Saud

“The future of the Kingdom is promising and bright, and our country deserves more than what has been achieved. We have capabilities that we will enhance and increase their contribution to shaping this future.”

His Royal Highness
Prince Mohammed bin Salman Al Saud
Crown Prince, Prime Minister of Saudi Arabia


Abdulrahman Al-Fageeh

SABIC Chief Executive Officer and
Executive Member of the board

I am happy to note over the past five years, we have been successful in our primary aim of becoming a key enabler in the achievement of Saudi Vision 2030, and consequently, helping to raise the level of localization of industrial technologies, creating new jobs, and increasing the volume of Saudi exports.

Our strategy of developing local content has borne fruit largely because of the pivotal role we play as a global producer of innovative solutions used in many industries around the world. We have leveraged our global partnerships to attract investments, bring in international expertise, and stimulate technology transfers.

In 2023, SABIC continued to advance in strengthening our support for Vision 2030. During the year, our estimated GDP impact touched SAR 6.4 billion (since inception, SAR 16.7 billion). Further, we have helped in creating 11,340 jobs for Saudis (30,756 since inception) and graduated 57 companies (251 since inception), enabling them to become commercially viable businesses. 

We are committed to continue on this successful journey of just five years by further strengthening the ecosystem of entrepreneurship we have helped create. We are determined to continue enabling Saudi Arabia’s downstream industries development, localizing and developing suppliers, providing opportunities to young innovators, and encouraging global involvement in Vision 2030.

I must stress that we would not have achieved what we have so far without the support from the government of Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and HRH Crown Prince Mohammed bin Salman bin Abdulaziz. I fully attribute our success to the integration of our efforts with governmental entities and financial institutions that have helped us drive Nusaned™ mission forward to better people’s lives.

As we move forward in our mission, our goal is to build on NUSANED™’s accomplishments over the past five years. We will continue exploring new opportunities to support small and medium enterprises and help them become competitive in global markets to boost exports, while creating new job opportunities for nationals – as the Kingdom moves closer to achieving the objectives of Vision 2030.

حققت (سابك) أداءً قوياً في عام 2021 م، رغم استمرار تحديات فيروس كورونا (كوفيد- 19). ومع ذلك، ندرك أن بلوغ هذا المستوى المميز لا يعني أبدًا أن نقنع به، بل يقودنا لمواصلة تحسين أدائنا في عام 2022م

Naif Mohammed Al-Ayed 

Vice President of Local Content and Business
Development Unit of SABIC

At the start of each new year, we find ourselves closer to our goals. We see Nusaned™ initiative taking confident steps in enhancing local content in the Kingdom, through its ongoing creation of innovative opportunities with a direct impact in supporting economic diversity, in alignment with the goals of Saudi Vision 2030.

Looking back at the significant leaps made by the initiative since its launch in 2018, the numbers and achievements are important indicators of the effectiveness of the experience and its success in establishing a model for collaborative work across various sectors, by stimulating all capabilities and uniting efforts towards localization.

What Nusaned™ has succeeded in over the past years is not limited to its direct role in enhancing local content by encouraging projects and small and medium enterprises, but it extends to empowering national talents and building promising industrial and professional expertise within a system of integrated goals that include qualifying entrepreneurs, creating jobs, and enhancing the competitiveness of the national product.

Today, we clearly see that the initiative has become a significant figure in increasing private sector participation in boosting non-oil exports and contributing to the gross domestic product. It is also now an attractive platform for high-value investments in the industrial field, in addition to the initiative’s ongoing role in localizing technology and knowledge through practical applications in collaboration with a select group of investors and global companies via “Home of Innovation™”.

Nusaned™ has created an encouraging environment for starting and developing businesses, whether at the individual or institutional level, which makes us look forward with great confidence to future successes. and I would like to conclude by renewing our thanks and appreciation to our partners in this continuously successful journey.

About Nusaned

Following the local content initiative and establishment of Local Content Unit in early 2017, SABIC launched its first Integrated Localization Engine: NusanedTM in 2018 to drive forward its localization agenda in support of the ambitious Vision for the local industry development.

Vission:

Help prepare the saudi local industry for promising sectors of the future as part of the National Industry Stratgy to enable Saudi Vision 2030, serving as SABIC’s integrated engine to achieve the localiztion agenda.

Mission:

Sponsor competitive industrial ventures, and provide direct-indirect support though strategic partners to build necessary infrastructure for advancing the saudi industrial sector, while acting as a catalyst for kingdom’s priority projects.

Mr. Abdul Rahman Al-Samary

CEO of the Local Content & Government Procurement Authority

Mr. Sami Al-Husseini

Governor of Small and Medium Enterprises General Authority

Mr. Ajlan Al-Ajlan

Chairperson of Council of Saudi Chambers

Following the local content initiative and establishment of Local Content Unit in early 2017, SABIC launched its first Integrated Localization Engine: NusanedTM in 2018 to drive forward its localization agenda in support of the ambitious Vision for the local industry development.

Vission:

Help prepare the saudi local industry for promising sectors of the future as part of the National Industry Stratgy to enable Saudi Vision 2030, serving as SABIC’s integrated engine to achieve the localiztion agenda.

Mission:

Sponsor competitive industrial ventures, and provide direct-indirect support though strategic partners to build necessary infrastructure for advancing the saudi industrial sector, while acting as a catalyst for kingdom’s priority projects.

Eng. Abdulrahman Al-Fageeh

CEO, SABIC

Eng. Osama Al-Zamil

Vice President Of Ministry Of Industry and Mineral Resources 

Eng. Fahd Al-Naeem

Deputy of sector investments development

Dr. Abdullah Abu Thaneen

Vice Minister
for Labor Sector
H.E. 

Mr. Abdul Rahman Al-Samary

CEO of the Local Content & Government Procurement Authority

Mr. Sami Al-Husseini

Governor of Small and Medium Enterprises General Authority

Mr. Ajlan Al-Ajlan

Chairperson of Council of Saudi Chambers

Following the local content initiative and establishment of Local Content Unit in early 2017, SABIC launched its first Integrated Localization Engine: NusanedTM in 2018 to drive forward its localization agenda in support of the ambitious Vision for the local industry development.

Vission:

Help prepare the saudi local industry for promising sectors of the future as part of the National Industry Stratgy to enable Saudi Vision 2030, serving as SABIC’s integrated engine to achieve the localiztion agenda.

Mission:

Sponsor competitive industrial ventures, and provide direct-indirect support though strategic partners to build necessary infrastructure for advancing the saudi industrial sector, while acting as a catalyst for kingdom’s priority projects.

Our Strategic Goals

NUSANED PILLARS

ENTEMA

An opportunity gate program through which SABIC brings together investors and entrepreneurs. Investors can explore business opportunities and test their viability and attractiveness based on socio-economic impact in Saudi Arabia and the long-term competitiveness and sustainability of the opportunity.

DAEM

For viable opportunities identified in the Entema process, SABIC implements support packages such as raw material letter of intents technical support throug its experts and research centers, and workforce capability development opportunities.

Access to Finance

To complement support packages offered in DA’EM, SABIC helps unlock access to direct and indirect funding through Nusaned Investment and strategic partners.

MUAHAL

SABIC provides customized training and programs to ensure that each project’s workforce has the necessary technical and leadership capabilities to grow the business in a competitive and sustainable way.

Supporting platforms

Nusaned in Numbers

GDP Impact for Graduated Opportunities by Sector (Mn SAR)

GDP Impact for Graduated Opportunities by Sector (Mn SAR)

Success stories

Strategic partners