The Ministry of Municipalities & Housing revealed its initiative to increase the facilities classified to 70% within its work in the Coordinating Committee for the Development of the Contracting Sector, with the aim of raising competitiveness on governance standards between enterprises.
The initiative aims to develop the work of contractors from individual businesses to institutional work, by updating the technical classification criteria for establishments, so that the governance ratio becomes one of the criteria for technical evaluation of establishments. In order to ensure the competition of enterprises to raise the percentage of governance in order to raise the degree of classification; This is reflected in raising the average percentage of corporate governance in terms of "financial statements; compliance levels; risk management and quality" from 44.6% to 70%.
The initiative also aims to raise the level of competitiveness by creating greater diversity, by increasing the number of classifiers at the level of the regions of the Kingdom, which reached more than 14,000 establishments classified according to corporate governance standards, so that the beneficiaries find business executors with a high ability to provide products with high reliability in business accuracy. and its quality.
Since its launch, the initiative has contributed to raising the percentage of classified establishments in Jizan to 156%, Al-Jawf to 139%, Al-Baha to 136%, Asir to 111%, Tabuk to 98%, Medina to 83%, Al-Qassim to 76%, Northern Borders to 39%, and Hail to 30%.
It is noteworthy that the Coordinating Committee for the Development of the Contracting Sector, headed by His Excellency Minister Majid Al-Hogail; It includes the Ministry of Municipalities & Housing, the Ministry of Commerce, the Ministry of Finance, the Ministry of Human Resources and Social Development, the Ministry of Investment, the Ministry of Economy and Planning, the Authority for Spending Efficiency and Government Projects, the Saudi Contractors Authority, and the Saudi Council of Engineers; Its mechanism of action aims to lay the foundations for the development of the contracting sector to be a sustainable economic tributary in the national domestic product. and has the attractiveness to invest in; By establishing governance that improves business quality and increases performance efficiency.
The initiative aims to develop the work of contractors from individual businesses to institutional work, by updating the technical classification criteria for establishments, so that the governance ratio becomes one of the criteria for technical evaluation of establishments. In order to ensure the competition of enterprises to raise the percentage of governance in order to raise the degree of classification; This is reflected in raising the average percentage of corporate governance in terms of "financial statements; compliance levels; risk management and quality" from 44.6% to 70%.
The initiative also aims to raise the level of competitiveness by creating greater diversity, by increasing the number of classifiers at the level of the regions of the Kingdom, which reached more than 14,000 establishments classified according to corporate governance standards, so that the beneficiaries find business executors with a high ability to provide products with high reliability in business accuracy. and its quality.
Since its launch, the initiative has contributed to raising the percentage of classified establishments in Jizan to 156%, Al-Jawf to 139%, Al-Baha to 136%, Asir to 111%, Tabuk to 98%, Medina to 83%, Al-Qassim to 76%, Northern Borders to 39%, and Hail to 30%.
It is noteworthy that the Coordinating Committee for the Development of the Contracting Sector, headed by His Excellency Minister Majid Al-Hogail; It includes the Ministry of Municipalities & Housing, the Ministry of Commerce, the Ministry of Finance, the Ministry of Human Resources and Social Development, the Ministry of Investment, the Ministry of Economy and Planning, the Authority for Spending Efficiency and Government Projects, the Saudi Contractors Authority, and the Saudi Council of Engineers; Its mechanism of action aims to lay the foundations for the development of the contracting sector to be a sustainable economic tributary in the national domestic product. and has the attractiveness to invest in; By establishing governance that improves business quality and increases performance efficiency.
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