In a move to enhance the value of domestic products and stimulate the nation's economy, the Secretariat General of the Tender Board issued a regulation on Sunday.

Under this regulation, the Directorate General of Local Content at the Secretariat General of the Tender Board will define the local content requirements for project tenders exceeding OMR3 million. Additionally, it may assess the local content requirements, as determined by relevant departments, for contracts valued between OMR500,000 and OMR3 million, depending on the contract's nature.

Bader bin Salim bin Marhoon Al Mamari, Secretary General of the Tender Board, explained, "The regulation mandates companies to submit comprehensive local content plans with their tender bids, outlining the incorporation of these plans into all project phases and subcontracts, if applicable."

He emphasized that the Secretariat General of the Tender Board reserves the right to modify the plan in collaboration with the concerned department before awarding the project to the executing company.

Al Mamari underscored the regulation's objective of promoting the utilization of national products in contract execution, fostering the growth of small and medium enterprises (SMEs), and generating employment opportunities for citizens.

Furthermore, he mentioned that the Secretariat General of the Tender Board will release and periodically update a list of national products approved for tendered projects, following established procedures and deemed necessary requirements.

Companies awarded contracts must promptly report any challenges encountered during the local content plan's implementation to the Directorate General of Local Content. For contracts valued at OMR3 million or less, companies need the Directorate General's approval for corrective measures related to the original local content plan.

The concept of local content encompasses national workforce, local assets, and other resources supporting SMEs.