Sure, Investment Ministry sign SAR 100M framework agreement

Logo of Sure Global Tech Co.

Sure Global Tech Co. signed, on Dec. 26, an open framework agreement with the Ministry of Investment to develop the services and applications of technical investment systems, including maintaining current systems and providing consulting expertise to develop new systems. 

The agreement runs for four years from the signing date and is estimated at SAR 100 million, the company said in a statement to Tadawul. 

The agreement covers developing the ministry’s technical investment systems services, including maintaining and upgrading the current systems, as well as applying the necessary technical systems. 

Furthermore, the deal is to ensure business continuity in the required technical systems to activate the ministry's operational model. This is part of the ministry's institutional strategy that emanates from the National Investment Strategy (NIS), as it serves all initiatives and entities related to investment and investors directly and indirectly through management, maintenance, and operation of investment journey applications, the statement added. 

The company expects this contract to have a positive impact on the company’s financials as of 2024, indicating that there were no related parties. 

According to data available on Argaam, the agreement was awarded to the company on Nov. 29, 2023.