H.E. Minister of Commerce and Investment Conveys His Thanks and Appreciation to the Custodian of the Two Holy Mosques and to H.R.H. The Crown Prince for Issuing the High Order to identify the arrears of the Private Sector and to effect payment urgently

12 Feb 2018
His Excellency the Minister of Commerce and Investment, Dr. Majid bin Abdullah Al Qasabi, conveyed his thanks and appreciation to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, and to His Royal Highness the Crown Prince, Mohammed bin Salman bin Abdulaziz for the issuance of the Royal Decree to identify all arrears for the suppliers and contractors and to effect payment urgently.

H.E. Dr. Al-Qasabi pointed out that this High Order comes as a result of the efforts and correspondence of His Royal Highness the Crown Prince, Deputy Prime Minister and Chairman of the Council of Economic Affairs and Development. Absolutely, this reflects H.R.H. vision of the importance of the private sector’s role as a key partner in achieving the current economic development in the Kingdom. H.E. indicated that effective mechanisms should be found to ensure the payment of the arrears or the amounts due for the contractors with the government agencies without any delay.

H.E. Dr. Al Qasabi confirms the on-going endeavors to facilitate and ease the government procedures for the private sector, giving all possible motivation and power to make this sector participate in the realization of the Kingdom’s Vision 2030. H.E. the Minister ensures addressing all obstacles and challenges facing the Kingdom, so that it may reach a leading commercial and investment position within a fair and stimulating environment.

The Royal Decree included setting up a committee of several government bodies, headed by H.E. the Minister of Commerce and Investment, to identify the arrears and all the amounts due for suppliers and contractors, stating the classification of such amounts, in order to determine the reasons for the payment delay, besides verifying the practices that are contrary to the official payment rules, such as the delay of submitting the necessary documents, needed for payment, to the Ministry of Finance. Coordination to be effected in this regard with the Chairman of the Council of Saudi Chambers.

The aforementioned committee is advised to develop the appropriate solutions for the payment of any due invoice or arrears urgently, besides finding the mechanisms to ensure the absence of any payment delay in the future.
Last Modified 26 Dec 2018