13 initiatives to improve contractors’ financing opportunities

The Saudi Contractors Authority unveiled 13 initiatives to improve access to financing solutions, and this came in a report on the occasion of the launch of the Contractor Financing Forum in its second edition in cooperation with the Monetary Agency on November 24-25 to discuss the challenges facing the sector in terms of financing.

The opening session will discuss the challenges of financing the contracting sector, in addition to many workshops such as the mechanism of financing contracts and contracting projects – the concept of financing invoices – financing the leasing and purchase of equipment – making your own financing product – preparing the documents required to obtain financing. The establishment of the forum comes after the previous version achieved great success in terms of the number of attendees and the benefit to the contracting sector from educational and awareness programs. The authority worked with the committee formed in the Ministry of Finance to set the necessary controls and procedures for financing contractors and reached an integrated study that included 13 initiatives, five of which have a direct impact and eight Some of them have an indirect impact. These initiatives aim to improve access to financing solutions, especially what is appropriate for small and medium enterprises, which represent about 98% of all contracting establishments in general.

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