Finance Ministry receives 95,000 private sector payment orders worth SAR 47 bln since mid-March

The Ministry of Finance received a total of 95,000 payment orders worth SAR 47 billion from the private sector between mid-March and mid-June, Hamad Alkanhal, Deputy Minister for Accounts, said.

The ministry plans to launch a new service enabling the private sector to submit financial documents via a digital platform, Alkanhal said on the sidelines of the virtual forum “Construction Sector Challenges”, organized by the Saudi Contractors Authority (SCA).

He further noted that the government supported and empowered the private sector over the past few years, to contribute to the economic growth, which falls within the objectives of Saudi Vision 2030.

The government also launched several initiatives to mitigate the financial and economic impact of the COVID-19 pandemic on the private sector, he stressed.

Elsewhere, Alkanhal noted that the new Government Tenders and Procurement Law ensures fair competition and transparency.