Saudi minister directs to settle disputes between contractors, government agencies - ZAWYA

RIYADH — Minister of Finance Mohammed Al-Jadaan has directed to settee disputes betwixt contractors and authorities agencies with respect to the implementation of projects. He urged to connection further tools to resoluteness the disputes.

The curate besides ordered to disburse dues of contractors for the projects that were implemented earlier arsenic good arsenic for the projects that were stalled.

This was disclosed by Hamad Al-Hammad, president of the National Contractors Committee. He said that the determination would bespeak positively connected the contracting sector, and would lend to its flourishing and enhanced enactment by addressing 1 of the large challenges facing contractors successful presumption of the hold successful the outgo of dues and its interaction connected stalling projects and affecting companies adversely.

The determination volition assistance companies resoluteness the problems of fiscal default, supply liquidity and trim fiscal burdens truthful arsenic heighten their quality to instrumentality and grow projects.

Al-Hammad said that specified decisions would stimulate the contracting assemblage arsenic currency travel is 1 of its large drivers and contributes to the sustainability of nationalist companies. “The committee remained keen connected touching connected contractors’ issues and presenting views and proposals connected them to the applicable authorities agencies, including the occupation of delaying the disbursement of dues and its interaction connected the contractor and task implementation,” helium said portion praising the quality and ratio of nationalist contracting companies to instrumentality assorted improvement projects.

It is noteworthy that the contracting assemblage successful the Kingdom plays a pivotal relation successful economical development. The fig of companies successful the assemblage accounts for much than 176,000 firms, with an yearly maturation complaint of astir 3 percent, and contributes by 5.5 percent to the Kingdom’s gross home merchandise (GDP), and by 10.7 percent to the non-oil GDP.

In 2021, the fig of projects projected by the authorities reached much than 540 projects, with a worth exceeding $120 billion, diversifying respective sectors, the astir important of which are construction, energy, and transportation.