Join IKTVA
iktva (pronounced ektva) is a well-known international trade association which connects major suppliers with SMEs. SMEs, as they are commonly known, have products that are specifically needed by the oil and gas industry. They also possess market and business experience, which can be harnessed to drive economic growth. Aramco’s iktva program has been a boon to the Kingdom, as it has helped to increase spending on domestic suppliers, creating jobs and generating prosperity. It has also demonstrated the effectiveness of partnerships by signing 50 MoUs between Aramco and its valued suppliers.
How to Become a Saudi Aramco Supplier
iktva has been around for more than six years now and has seen numerous successes in both its core functions and its offshoots. It has also proven its mettle in times of turmoil. During the COVID-19 pandemic, the iktva program was able to deliver the most important ingredient of resilience to its supply chain. This is a major achievement for the nation’s largest oil and gas company and a testament to the resilience of Saudi Arabia’s economy and the energy sector at large. The iktva has also been a key driver of innovation in the Kingdom, proving that the best way to grow is to partner with your locals. Moreover, iktva has enabled the SME sector to take its place in the global arena.
The iktva has also earned the dubious honor of being the most significant energy-related procurement plan in Aramco’s storied history. It has been the linchpin of the company’s successful energy strategy for the past four years. Aramco has signed 59 CPAs with 51 manufacturers. This has been accompanied by a number of MoUs between the two organizations that have increased Aramco’s resilience in the face of the worst economic downturn since the 1950s. In addition, iktva has provided the best-in-class infrastructure for its clients. This has been a major contribution to the Kingdom’s GDP. Its other responsibilities include a plethora of other notable achievements, which are all part of Aramco’s quest to become the world’s most innovative and efficient gas and oil producer.
How Do I Join IKTVA?
The most important thing to remember when it comes to iktva is that it is a long-term strategy that requires careful planning, collaboration and a clear cut understanding of the needs and wants of both sides. It is also a key mechanism for Aramco to develop its supply chain and strengthen its readiness for the future.
How Can my Company Participate in IKTVA
iktva is a program designed by Saudi Aramco to build a world class supply chain and maximize long term economic growth. Its main tenets are to increase Aramco’s readiness and resilience to disruptions in the oil and gas industry, while at the same time promoting domestic value creation. It is also one of the most important strategies to develop the energy services sector in the Kingdom. To further facilitate industry collaboration, the program includes an extensive list of partner organizations, which include AVK Saudi, GE Oil & Gas, and Schlumberger. Iktva is a must have for anyone looking to do business with Saudi Aramco. It is also a good way to promote innovation in the Kingdom’s energy sector.
The program has delivered on all fronts, from improving the Kingdom’s readiness to making the Kingdom a more attractive business destination. It has also made the country’s supply chain more resilient, and has created more than 100,000 supply chain jobs. While the program is not without its flaws, it has nonetheless proved to be the sexiest and most effective strategy to date. In fact, iktva has played a crucial role in increasing the Saudi economy’s overall competitiveness. Its success is largely attributed to the company’s commitment to its suppliers. iktva has not only helped to boost the Kingdom’s GDP, it has also contributed to the burgeoning SME sector in the country.
The iktva has been around for six years now, but it has never gone out of style. In fact, it has become an integral part of the procurement process. The program has succeeded in its core mission: to create a world-class supply chain that enhances Aramco’s ability to deliver high quality products and services. In addition to improving readiness, Iktva has played a critical role in developing the Kingdom’s energy services sector. It has spawned many successful partnerships, including a whopping 50 MoUs. These have enabled Aramco to increase its spend with its domestic supply base. Iktva’s success has been attributed to a series of strategic initiatives that aim to foster industry collaboration and improve the country’s supply chain resilience. Iktva’s most recent feat was announcing the launch of the iktva Excellence Award, which recognizes those companies that have been able to demonstrate a commitment to the program.