Saudi Arabia’s Minister of Investment, Khalid Al-Falih, revealed that 25 deals worth $26.66 billion are being finalized under the “Jasri” initiative during his address at the Local Content Forum in Riyadh on Wednesday.

Al-Falih highlighted the critical role of local content in enhancing the competitiveness of various economic sectors, stressing that the “Jasri” initiative is one of the Ministry of Investment’s flagship projects focused on strengthening value chains.

Additionally, the minister noted collaborations with the Partner Program and the Incentives Committee, which have secured investments exceeding $79.9 billion. These collaborations involve high-quality and distinctive opportunities aimed at fostering long-term economic growth.

Highlighting advancements in the automotive sector, Saudi Arabia’s Minister of Investment, Khalid Al-Falih, announced the establishment of three car manufacturing complexes designed to enhance supply chains and strengthen the industry’s infrastructure.

Al-Falih also acknowledged the Public Investment Fund’s (PIF) significant efforts to localize industries, citing the recent launch of “Alat,” a key initiative aimed at fostering domestic production and innovation.

The second edition of the Local Content Forum, themed “Partnerships for Sustainable Development,” opened in Riyadh on Wednesday, with participation from various government agencies and private sector representatives.