The Local Content and Government Procurement Authority honored "Sawaed" Business Services, owned by the Human Resources Development Fund (HRDF), with the Excellence Award in Local Content after winning first place in the private sector facilities category for medium-sized enterprises.

During the ceremony held in Riyadh, His Excellency the Minister of Industry and Mineral Resources and Chairman of the Board of Directors of the Local Content and Government Procurement Authority, Mr. Bandar bin Ibrahim Al-Kharif, presented "Sawaed" with the award for their outstanding contributions to the development of local content in the national economy and their support for the national economy.

"Sawaed" Business Services won this award due to its national efforts in developing local content in the national economy and its contribution to supporting the national economy. The ceremony was attended by several dignitaries and officials.

Mr. Nizar bin Saleh Al-Suwaiyan, the CEO of Sawaed, expressed his pride and honor in this achievement, stating that this recognition is a result of Sawaed's approach to empowering national talents, with Saudis comprising 98% of the company's workforce, including 60% women.

Al-Suwaiyan added, "I am pleased to extend my gratitude to the Chairman of the Board of Directors of Sawaed, His Excellency Mr. Turki Al-Jua'ini, and the respected members of the board for their support of all efforts that serve the labor market and enhance local content."

The Excellence Award in Local Content aims to stimulate both the public and private sectors and the targeted groups to participate in developing local content and increasing compliance with its requirements by providing clear evaluation mechanisms for participants. It also aims to contribute to building a strong and sustainable economy and enhancing national purchasing power.

It is worth mentioning that the Local Content Award serves as an incentive for all government and private sectors in enriching local content in the Kingdom, seeking to raise participation levels and improve the performance of competitors in executing contracts and projects to enhance local capabilities and maximize the benefit from national purchasing power.