Saudi Arabia has launched an international tendering service which aims to open new opportunities for companies to expand overseas.
Saudi Export Development Authority (Saudi Exports) has launched the new service in a bid to increase the competitiveness of Saudi companies in several targeted sectors.
Saudi Exports secretary general Faisal Al-Bedah said that the international tendering service is an important step to support exporters, increase their competitiveness and boost the export percentage of Saudi services and products.
The move also aims to support Saudi Vision 2030 and its goals which include increasing the share of non-oil exports from 16 percent to 50 percent.
According to Saudi Press Agency, the service includes eight targeted sectors and 24 sub-branches, the most important of which are construction, industrial supplies and infrastructure projects.
Saudi Exports called on all companies interested in receiving the service to register on its website saudiexports.gov.sa.
The launch comes as part of a major exports push by Saudi Arabia after the kingdom registered a double-digit increase in the first quarter of 2021 compared to the year-earlier period.
Exports rose by 10.8 percent to SR212.4 billion ($56.5 billion) in Q1, driven mainly by exporting oil to overseas markets, which rose by 6.6 percent compared to Q1 2020.
Exports also rose by 18 percent compared to the previous quarter, said the General Authority for Statistics (GASTAT).
The ratio of non-oil exports to imports increased to 43.5 percent in Q1 as exports to China amounted to SR38.9 billion, making the country the main destination for exports from Saudi Arabia.
The figures were announced weeks after Saudi Arabia launched a major new trade initiative aimed at pushing homegrown products to both domestic and international markets.
The Made in Saudi campaign aims to support national products and services at local and international levels.
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