“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.”
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.”
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
2023 marks the fifth year since we launched our groundbreaking initiative, NUSANED™, seeking to promote investments in small and medium enterprises and support the development of local content.
I am happy to note that, over the past five years, we have succeeded in our primary aim of becoming a key enabler in the achievement of Saudi Vision 2030. Consequently, we have helped to raise the level of localization of industrial technologies, create new jobs, and increase 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 strengthen our support for Vision 2030. During the year, our estimated GDP impact reached 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 by further strengthening the ecosystem of entrepreneurship we have helped create. We are determined to continue enabling the development of Saudi Arabia’s downstream industries, 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 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. We will therefore be in step with the Kingdom as it 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
VP, Local Content & Business Development Unit
With each passing year, we find ourselves closer to our goals. We see Nusaned™ taking confident steps in enhancing local content in the Kingdom, through its ongoing creation of innovative opportunities that directly support 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, we can see how it successfully established model for collaborative work across various sectors, by building up 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. Its success also 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 national products.
Today, we clearly see that the initiative has become a significant player 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 the 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.
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: Nusaned™ in 2018 to drive forward its localization agenda in support of the ambitious Vision for the local industry development.
Vision:
Help prepare the Saudi local industry for promising sectors of the future as part of the National Industry Strategy to enable Saudi Vision 2030, serving as SABIC’s integrated engine to achieve the localization agenda
Mission:
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:
Mission:
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:
Mission:
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
