The Saudi Contractors Authority (SCA) is set to officially launch two key initiatives - 'standard agreements' and 'advisory services' - in the coming weeks to stimulate the sector and make an attractive investment environment in line with the requirements of the Kingdom’s Vision 2030, reported Arab News.
The move is aimed at enhancing transparency and fair competition in the construction sector and to trim the percentage of stalled projects, as well as to adopt a mechanism for settling disputes to avoid resorting to the courts as much as possible, stated the report, citing SCA.
This initiative targets small and medium enterprises (SMEs) in the building sector that are experiencing administrative or operational technical challenges, which negatively affects their performance, the implementation of these projects and the quality of their outputs, it said.
It also enables the owner to evaluate the contractor providing the service in the future, which helps to raise the quality of services and works provided by contracting facilities and enhance competitiveness among them, which is reflected in fast implementation of projects, the report added.
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