There are approximately 165,000 companies in Saudi Arabia’s contracting industry overall, including small, medium-sized, and large businesses. The number of employees within these companies is around three million; a fact underlined by Engineer Zakaria bin Abdul Rahman Al Abdul Qader, the Chairman of the Board of Directors of the Saudi Contractors Authority.
Al Qader was addressing a gathering organized by the Federation of Saudi Chambers to discuss the potential for collaboration as well as the Authority’s programs and services for setting up and growing the contracting industry. He also explained that many jobs have been localized and work is underway with the legislatures to localize more. Engineer Thabet bin Mubarak Al Suwaid, the Authority’s Secretary-General, also attended.
Many jobs have been localized and work is underway with the legislatures to localize more
At the event, the Secretary-General of the Federation, Hussein Al Abdul Qader, and Engineer Al Suwaid signed an agreement between the Federation of Saudi Chambers and the Saudi Contractors Authority that outlines expanding the scope of cooperation between the two parties and establishing the guidelines and standards for organizing and developing the sector.
Per the Kingdom’s 2030 vision, the agreement placed a strong emphasis on enacting pertinent laws and decisions, empowering national facilities to carry out building and construction projects, enhancing their working conditions, offering technical advice to businesses, identifying challenges and obstacles, offering suggestions and solutions, and enhancing sector facility participation in construction programs.
The value of projects in the contracting sector has increased to SR20 trillion over the last five years, according to Hamad Al-Hammad, head of the National Contracting Committee of the Federation of Saudi Chambers, showing the industry’s significance, vitality, and developmental role.