On June 12th, representatives from Aramco as well as the Ministry of Energy (TBC) talked about upcoming projects. Participants had the opportunity to have prescheduled one-to-one-meetings with representatives from Aramco, the Ministry of Energy and other market enablers.
On June 12th, Delegation der Deutschen Wirtschaft für Saudi-Arabien, Bahrain und Jemen, VDMA and aramco Europe welcomed more than 70 German companies to their event „Aramco Europe: Supply Chain and Business Opportunities in Saudi Arabia“ at the VDMA headquarters in Frankfurt.
The participants received valuable insights on sourcing opportunities, manufacturer approval process, projects portfolio and the IKTVA program.
Presentations by the Ministry of Energy, Ministry of Industry and Mineral Resources, Ministry of Investment and the Saudi Industrial Development Fund - SIDF highlighted the game-changing opportunities that Saudi Arabia has to offer. On top, the localization success story of the German company VEM Sachsenwerk GmbH.
In the afternoon, more than 100 bilateral meetings took place for in-depth talks.
Special thanks to our partners VDMA and Aramco Europe.
About Aramco
Aramco is one of the world's largest integrated energy and chemicals companies, creating value across the hydrocarbon chain. Committed to achieve net-zero, the company is a key contributor with innovations in new domains such as hydrogen, decarbonization and more. As Aramco explores these and other opportunities to provide energy solutions that can transform the world, there are ample market opportunities for suppliers in both the conventional oil, gas and petrochemicals and other sectors such as renewable energy.
Aramco is in full alignment with Saudi Arabia’s vision on driving supply-chain efficiency and value via the iktva program (iktva), which among others encourages German suppliers to establish a production capacity in the Kingdom. This program and its broad range of incentives is a driving demand for various production equipment and opens market opportunities for machinery suppliers that did not consider Saudi Arabia in the past. In a recent meeting in Saudi Arabia, VDMA members were very optimistic about such market opportunities for the next 2 - 4 years.
This event is jointly organized by Aramco Europe, German-Saudi Arabian Liaison Office for Economic Affairs (GESALO / AHK Riad) and VDMA. It is addressing sales management and market development as well as investment planning.