I and others have written about the reality of the contracting sector in the Kingdom, which lives and grows in a state of chaos, with 115 thousand commercial records of companies and institutions in the contracting sector in the Kingdom until the end of 2013, of which only 3052 have a classification certificate (i.e. only 3 %) and most of them operate in violation of the regulations, under the umbrella of cover-up, while there is something like a monopoly for large projects by four or five companies.

One of the surprising things is that large contracting companies in the Kingdom, despite the magnitude of their activities, have not converted to shareholding, and one of the reasons for this may be the chaos of the environment governing the work of this sector. It is surprising that the major contracting companies in the Kingdom, despite the magnitude of their activities, have not turned into shareholdings, and one of the reasons for this may be the chaos in the environment governing the work of this sector, and it is also noticeable that there are semi-governmental shareholding companies in the banking, telecommunications, petrochemical and insurance sectors, and in all major investment sectors, except the contracting sector, despite the size of the contracting market in the Kingdom and the hundreds of billions of projects implemented every year, and the Kingdom is certainly at the top of the world countries in terms of government projects.

For the development of this sector, I believe that the Kingdom is one of the most important countries in the world in terms of the size of government projects. To develop this sector, I think it is necessary for the government, through its investment arms, to establish more than one joint stock company in the construction sector, and offer at least 50% of its shares for public subscription so that a large base of citizens benefit from this boom that the Kingdom is experiencing, and Aramco can also be a partner with the Public Investment Fund to carry out this expected step.

What I think is important is that the government, through its investment arms, establish more than one joint stock company in the contracting sector. <What made me reiterate these demands is the feeling of optimism that there is a desire to develop the sector, and this week an important positive decision was issued in this context, represented by the approval of the Council of Ministers on a number of measures that open the way for well-known foreign companies to work in the Kingdom without the need to subject them to the procedures applied by the Contractors Classification Agency, so that the Ministry of Municipal and Rural Affairs will coordinate with the relevant government agencies to develop a periodically updated list of well-known international companies to deal with in several fields related to construction, infrastructure, energy, information technology and... ** Khalid Al-Ferian
Riyadh Newspaper