Saudi Exports launches service for local firms to bid in foreign tenders

The Saudi Exports Development Authority will identify over 120 international tendering opportunities in a number of target countries, mainly covering construction and industrial supplies and infrastructure projects, SPA reported.

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 gross domestic product.

The authority launched an 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 to support exporters, increase their competitiveness level, boost the export percentage of Saudi services, products and re-exportation, SEDA 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 ExportImport Bank on Tuesday signed a memorandum of understanding (MoU) with the Federation of Saudi Chambers to provide non-oil exporters SR9 billion ($2.3 billion), FCS said in an emailed statement.