The Human Resources Development Fund has entered into a memorandum of cooperation with the Local Content and Government Procurement Authority to enhance local content in the field of human resources. This is aimed at incentivizing local content through the workforce in positions required in government projects and contracts, and leveraging the programs offered by the Fund. It emphasizes focusing on jobs with the highest and most sustainable impact on local content and preparing Saudi employees working across various sectors.

The memorandum was signed by His Excellency, the Director General of the Fund, Mr. Turki bin Abdullah Al Juwaini, and His Excellency, the CEO of the Authority, Mr. Abdulrahman bin Abdullah Al Samari.

The outputs of the memorandum contribute to providing a list of jobs in high demand in government contracts and facilitating a list of targeted jobs in priority service sectors with high government spending. This is achieved through utilizing the guidance, training, and empowerment programs of the Fund to increase the percentage of local content in industry localization projects and knowledge transfer.

Both parties look forward to developing local content in all its components at the national economy level and enhancing government procurement activities to achieve developmental and financial goals according to visions and strategies. This is done by leveraging the support and incentive capabilities provided by the Fund for training, qualification, and employment of national talents to work in private sector facilities and achieve sustainability in the labor market, in line with localization initiatives, plans, and efforts.

The two parties have agreed to form a joint working team to activate areas of cooperation and to monitor the progress and stages of the memorandum's provisions.