Saudi' SEDA pushes local companies to bid in international tenders

This comes in efforts to implement the Kingdom's vision 2030 goals of increasing the share of non-oil exports from 16 percent to 50 percent of the total non-oil GDP.

Saudi Exports launched the international tendering service to open new opportunities for national companies to expand in international markets and increase their competitiveness, through allowing them to export services and products via international tenders in several targeted sectors.

The international tendering service is an important step by the Authority to support exporters, increase their competitiveness level, boost the export percentage of Saudi services, products and re-exportation, Saudi Exports Secretary-General, Faisal Al-Bedah said.

The service includes eight targeted sectors and 24 sub-branches, where Saudi Exports will provide periodic reports with data and analyses for the most important projects in targeted countries.

In other efforts to increase non-oil exports, the Saudi Export-Import Bank (EXIM) on Tuesday signed a memorandum of understanding (MoU) with the Federation of Saudi Chambers (FSC) to provide non-oil exporters SR9 billion ($2.3 billion), FCS said in an emailed statement.

The MoU signed with EXIM seeks to support efforts in increasing non-oil exports and provide credit solutions to the business community to improve the competitiveness of the Saudi products, FSC President Ajlan bin Abdulaziz Al-Ajlan said.