Saudi Arabia’s Ministry of Finance has made firms’ registration in the Saudi Contractors Authority (SCA) as a basic precondition for bidding for government tenders, Okaz newspaper reported on Monday, citing SCA’s chairman, Osama Al Afaleq.

 

The move came after the ministry had directed all governmental and quasi-governmental entities to take part in the contracts signed with the private sector.

 

As many as 400 firms are currently registered at the SCA, Al Afaleq said, describing the number as “very modest” when compared to more than 130,000 contractors operating in the Kingdom.

 

The ministry will approve the government tenders and procurement law by the end of this year.

 

Saudi Arabia is seeking to find the suitable solutions for contractors’ overdue payments, Al Afaleq added.

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