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On 6 June 2016 Saudi Arabia adopted an economic and development programme, referred to as "Saudi Arabia's Vision 2030" or National Transformation Program. This programme has many facets, some of which implicate foreign commercial interests.
One of the initiatives associated with this Program relates to encouraging local production and is stated as follows
"Maximizing Local Content. Some program initiatives contribute to localizing more than SAR 270 billion 'USD 72 billion' of content, increasing its added value, reducing dependence on imports, and creating job opportunities. As a result, the nation moves closer to fulfilling the goal of maximizing local content across sectors."
Specific trade- and investment-related targets for the year 2020 set associated with this Program include:
The 2016 implementation plan included funding for
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