Sure inks SAR 16.3M contract with Ministry of Commerce

Logo of Sure Global Tech Co.

Sure Global Tech Co. signed a contract worth SAR 16.3 million, inclusive of VAT, with the Ministry of Commerce, according to a statement to Tadawul.

The project is to develop the operational and governance models, as well as mechanisms and technical systems to monitor and track the entry and circulation of goods and products in the market.

The contract duration is 24 months starting from the date of signing.

Sure will develop indicators for monitoring the availability of products in the Kingdom and analyze differences. It will also develop the electronic system to monitor and track the entry and circulation of goods in the market and price differences throughout the Kingdom. In addition, the company will build the capabilities of the Consumer Protection Association and transfer knowledge in data-based supervision and follow-up in the Saudi regions.

The contract will have a positive impact on the company’s financials in 2024 and 2025, Sure said, noting that there are no related parties.

The necessary signatures were completed, and a copy of the contract was received on Feb. 28.

The company was awarded the project in January, according to data available with Argaam.