The Saudi Contractors Authority Has Been Introduced

The Saudi Contractors Authority (SCA) is a new authority responsible for regulating the contractor industry in Saudi Arabia and increasing the number of mergers and acquisitions within the Kingdom. The SCA will work to address labor issues, draft rules for the industry, publish industry data, and supply statistics to the government.

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Saudi Vision 2030

In an exclusive interview with Al Arabiya News Channel on Monday, Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman discussed the kingdom’sVision 2030 roadmap and pledged to end Riyadh’s dependence on oil revenue by 2020. Among the themes raised in the interview, conducted by Al Arabiya News Channel’s General Manager Turki Al-Dakhi, were plans to put oil giant Aramco’s shares in an initial public offering, the Saudi public investment fund, a Green Card scheme, tourism, expats, defense and further details on the Saudi Vision. As part of the new strategy, Saudi Arabia will sell less than 5 percent of oil giant Aramco’s shares via a partial IPO, the prince said, adding that it is set to be the “biggest IPO in history.”

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