IKTVA Program and Saudi Aramco Supplier
Among the many strategies that have advanced Saudi Arabia’s energy services sector is the iktva program. The iktva is a concept that connects major oil and gas suppliers with small and medium-sized enterprises, thereby increasing the Kingdom’s competitiveness and driving industry collaboration. The iktva’s primary goal is to stimulate economic growth and build a well-trained and skilled workforce. It also has the potential to create thousands of new jobs over the next decade. It is no wonder, then, that the iktva has become the cornerstone of Aramco’s strategic policy. The iktva is the best example of what Aramco is trying to do: make the Kingdom more attractive to businesses looking to do business.
How to Become a Saudi Aramco Supplier
The iktva has been around for at least six years. In the time it has been around, it has managed to establish itself as a stalwart in the energy sector. The program has helped Aramco to streamline its supply chain and create more than 140 investment opportunities. In addition to that, the iktva has helped to create more innovative, high-value infrastructure in the Kingdom.
The iktva has been a boon for SMEs, who have become dynamic drivers of innovation, and who have a wide range of products that are necessary for the oil and gas industries. It has also provided a level playing field for suppliers. Specifically, the iktva has helped create a more transparent application process.
The IKTVA Program and Saudi Aramco Supplier
It is no surprise that Aramco has been a fan of the iktva for quite some time. Aramco’s vice president of procurement, Mohammad Al Shammary, has been a vocal proponent of the program, and has been patient in highlighting the mutual benefits between the two companies. Iktva is one of the best examples of how a public-private partnership can benefit both parties. The program’s success has been a result of both parties’ willingness to work together.
How Can my Company Participate in IKTVA
Aramco has worked with the SMEs to create action plans relating to a variety of commodities. Moreover, the iktva has enabled more SMEs to participate in the industry and to learn how to do business with Aramco. In fact, the iktva has helped SMEs in the Kingdom to take the first steps towards their own success.
The iktva’s true value is a function of how much it adds to the economy in terms of GDP. As part of the program, Aramco’s engineers have developed the iktva calculator, which is a comprehensive tool that will be used by Aramco’s procurement team to help them assess how well the iktva measures up. The iktva calculator, or ICV, consists of three components: the goods and services element, the bonus factor, and the iktva. The iktva calculator is the simplest of the three iktva calculators. It is a simple calculation that evaluates the iktva’s cost, return on investment, and revenue figure. It is then used to determine the company’s ICV score. A supplier with a high ICV score will receive an invitation to bid for Aramco work.
