Saudi contractors not in competition with foreign peers: SCA Chairman

Logo of Saudi Contractors Authority (SCA)

Mohammed Al-Ajlan, Chairman of the Saudi Contractors Authority (SCA), stated that opening up the local market to foreign contractors does not necessarily translate into secured leverage of projects, emphasizing fair competition for all.

In an interview with CNBC Arabia, he also stressed that the foreign contractors are not competitors to Saudi contractors but are rather partners, complementing one another in knowledge exchange.

Current regulations, according to Al-Ajlan, aim to facilitate the entry of foreign contractors into the Saudi market, albeit not granted special treatment.

The Saudi contracting sector is witnessing huge momentum, being a key economic driver. It serves as the executive arm of the Vision 2030 projects, he added.

Key downsides, however, include financing, delayed payments, and specific changes. SCA is working with government entities to overcome obstacles facing contractors by connecting them with financing institutions.

He highlighted that about 1,700 foreign contractors are registered with the authority, compared to more than 18,000 Saudi contractors.