Riyadh - Sharikat Mubasher: New Murabba Development Company (NMDC), owned by the Public Investment Fund, signed a memorandum of understanding (MoU) with the Ministry of Industry and Mineral Resources to strengthen local content and expand national supply chains.

The MoU was signed by Mamdouh Al-Quraishi, Chief Corporate Services Officer (CCSO) of New Murabba, and Albadr Adel Fouda, Deputy Minister for Industrial Enablement at the Ministry of Industry and Mineral Resources, in the presence of Khalil Salamah, Vice Minister of Industry and Mineral Resources for Industrial Affairs, and Michael Dyke, Chief Executive Officer of New Murabba, the company announced in a recent press release.

Under the MoU, both parties will work together to explore joint initiatives to enhance local content across development projects, including sharing industrial knowledge and expertise, providing data on local manufacturing capabilities aligned with project requirements, and ensuring compliance with applicable regulations and standards.

It also sets a framework for assessing the readiness of local manufacturers through a detailed list of qualified factories, alongside recommendations to improve the competitiveness of local products.

Al-Quraishi stated that the partnership enables deeper engagement with Saudi manufacturers, improves supply-chain transparency, and ensures the company’s development directly supports the Kingdom’s broader economic ambitions.

The MoU opens new opportunities for Saudi manufacturers to participate in shaping a globally competitive urban destination grounded in innovation and sustainability.