May 15, 2018
Increase by 1.5 Billion of STC’s procurement from local SMEs
STC announced launching (Rawafed) program to enhance local content and innovation. The company`s initiatives succeeded in raising its procurements from SMEs to more than 24% of total procurements. Rawafed will contribute in raising the percentage of nationalized jobs at its global partners of contractors from 20% to 60%, during three years. This came within STC`s efforts to enhance local content in line with the objectives of 2030 Vision. STC also organized ( the seventh annual Vendor`s Day) in King Abdulaziz Complex under the logo ( partnering towards building a national knowledge-based economy) with the attendance of more than 200 vendor and partner of STC.
STC Group CEO Nasser Al-Nasser said during The Day of Local Content Forum: “Rawafed's program aims to enhance local content and innovation increasing localization rates, support small and medium enterprises in the field of ICT and train them in transferring knowledge and opening new opportunities for these enterprises beyond the Kingdom, As well as building innovative centers in collaboration with global partners”. He pointed out that the company in 2017 exceeded the target of 15% allocated to purchase from small and medium enterprises to 24% of its procurement budget. The company will increase this percentage gradually, directly and indirectly through the partners of STC, and this is in light of the Convention signed with The General Authority for Small and Medium Enterprises, to allocate a percentage of the Saudi Telecom purchases budget for Saudi small and medium enterprises. This initiative is in line with the company's active role in achieving objectives of vision 2030. STC procurement VP and Support Services Imad Al-Awda refered to STC’s strategic initiatives to support local content as one of the main axes and a top priority. “we are developing an ambitious and sustainable framework in cooperation with its governmental and private partners to maximize local content”. He added.
“The company, in cooperation with its strategic partners, will sponsor the establishment of several research and innovation centers that will create an environment conducive to innovation and contribute to the development of an innovative infrastructure that complies with the information aspirations of the Kingdom with leading companies such as Ericsson, Nokia and Huawei”. He said.
- Inauguration of the First Digital STC Store in KSA Offering Services 24 hours
- Saudi Telecom Company (STC) has been elected to the GSMA Board, the world's largest mobile organization
- Tarig Enaya at the Future Investment Initiative: 10 Billion to Be Invested in Smart Cities in the Next Four Years
- STC’s Net Income for Q3 2018 compared to the comparable quarter last year and the 2nd quarter this year increased by 2.9% & 8.1% (respectively), and it distributes SR 1 per share dividends for the 3rd quarter.
- Future Investment Initiative: Al-Nasser urged to innovation and investment to accelerate digital transformation