Stop government agencies’ contracting with any company or merchant establishment

0
25


An incentive to adapt its business and strive to create jobs, reduce economic leakage, and raise spending efficiency

A responsible source stated that the government of the Kingdom of Saudi Arabia is determined to stop contracting with any foreign commercial company or establishment that has a regional headquarters in the region in other than Saudi Arabia, starting from (1/1/2024). This includes government agencies, institutions, funds, or any of its agencies.

The source pointed out that this comes as a catalyst to adapt the work of foreign companies and institutions that have dealings with the Saudi government and government agencies, institutions and funds or any of its apparatus, in an effort to create jobs, reduce economic leakage, raise spending efficiency, and ensure that the main products and services that are purchased It is implemented by various government agencies on Saudi land, with appropriate local content.

The source also indicated that this trend comes in line with the announcement of the strategic goals of the Saudi capital, Riyadh 2030, during the recent Future Investment Initiative Forum, during which 24 international companies intend to move their regional headquarters to Riyadh.

The source emphasized that this will not affect the ability of any investor to enter the Saudi economy or continue to deal with the private sector, and the related controls will be issued during 2021.

Responsible source: Stopping government agencies’ contracting with any foreign commercial company or establishment that has a regional headquarters in the region outside the Kingdom, starting 2024

Previously

A responsible source stated that the government of the Kingdom of Saudi Arabia is determined to stop contracting with any foreign commercial company or establishment that has a regional headquarters in the region in other than Saudi Arabia, starting from (1/1/2024). This includes government agencies, institutions and funds, or any of its agencies.

The source pointed out that this comes as a catalyst to adapt the work of foreign companies and institutions that have dealings with the Saudi government and government agencies, institutions and funds or any of its apparatus, in an effort to create jobs, reduce economic leakage, raise spending efficiency, and ensure that the main products and services that are purchased It is implemented by various government agencies on Saudi land, with appropriate local content.

The source also indicated that this trend comes in line with the announcement of the strategic goals of the Saudi capital, Riyadh 2030, during the recent Future Investment Initiative Forum, during which 24 international companies intend to move their regional headquarters to Riyadh.

The source emphasized that this will not affect the ability of any investor to enter the Saudi economy or continue to deal with the private sector, and the related controls will be issued during 2021.

February 15, 2021 – Rajab 3, 1442

08:04 PM

Last update
February 16, 2021 – Rajab 4, 1442

06:14 AM


An incentive to adapt its business and strive to create jobs, reduce economic leakage, and raise spending efficiency

A responsible source stated that the government of the Kingdom of Saudi Arabia is determined to stop contracting with any foreign commercial company or establishment that has a regional headquarters in the region in other than Saudi Arabia, starting from (1/1/2024). This includes government agencies, institutions and funds, or any of its agencies.

The source pointed out that this comes as a catalyst to adapt the work of foreign companies and institutions that have dealings with the Saudi government and government agencies, institutions and funds or any of its apparatus, in an effort to create jobs, reduce economic leakage, raise spending efficiency, and ensure that the main products and services that are purchased It is implemented by various government agencies on Saudi land, with appropriate local content.

The source also indicated that this trend comes in line with the announcement of the strategic goals of the Saudi capital, Riyadh 2030, during the recent Future Investment Initiative Forum, during which 24 international companies intend to move their regional headquarters to Riyadh.

The source emphasized that this will not affect the ability of any investor to enter the Saudi economy or continue to deal with the private sector, and the related controls will be issued during 2021.





LEAVE A REPLY

Please enter your comment!
Please enter your name here