Private Sector Payments on Time, says Saudi Ministry

Saudi Finance Ministry has confirmed that 97% of the payments from Private sector contracts are paid on time which means payments are made within 30 days of issue with 99% paid within 60 days

1% percent of the payments which are delayed due to court orders which acts as a dispute between government and the client and were subject to contractual dispute resolution mechanisms.

As per Saudi’s Economy and Planning minister, Foreign investment in Saudi Arabia more than doubled in 2018 to 13 billion riyals ($3.5 billion) and going forward per the Vision 2030, foreign investments will play a major role in contributing to to Saudi Arabia’s economy and diversifying it from Oil Revenues.

The Kingdom of Saudi Arabia is also taking all steps to make small and medium enterprises the main engine for economic development.

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