Saudi Arabia to compensate contractors for hike in expat fees

A photo taken on January 31, 2017 shows a view of cars driving past a suspended bridge of one of the lines of the Riyadh metro in the Saudi capital. (AFP)
Updated 28 March 2018
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Saudi Arabia to compensate contractors for hike in expat fees

RIYADH: Saudi Arabia on Tuesday said it would reimburse contractors for increased expatriate worker’s fees in government projects approved before December 2016.
“After reviewing the imposition of monthly fees on expatriate labor ... the Cabinet orders the Finance Ministry ... to compensate enterprises which entered into government contracts before December 2016,” the SPA reported.


FaceOf: Ahmad Al-Khatib, chairman of the board of directors of the Saudi Arabian Military Industries

Ahmad Al-Khatib
Updated 27 May 2018
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FaceOf: Ahmad Al-Khatib, chairman of the board of directors of the Saudi Arabian Military Industries

  • Saudi Arabian Military Industries aims to aims to reduce the country’s reliance on foreign purchases of military products

JEDDAH: Ahmad Al-Khatib was appointed the chairman of the board of directors of the Saudi Arabian Military Industries (SAMI) in October 2017. 

He also holds the posts of chairman of the board of directors of the General Entertainment Authority (GEA) since 2016; chairman of the board of directors of the Saudi Fund for Development; adviser to the general secretariat of the Cabinet; adviser to the minister of defense; and adviser to the court of the crown prince.

Al-Khatib inaugurated on Friday the new facilities of the Aircraft Accessories and Components Company (AACC) at its new headquarters at King Abdul Aziz International Airport in Jeddah during a ceremony under the patronage of Crown Prince Mohammed bin Salman.

SAMI aims to reduce the country’s reliance on foreign purchases of military products and become one of the top 25 global companies in the field of military industries.

“Our goal is to localize more than 50 percent of the Kingdom’s military spending by 2030,” said the crown prince in his earlier statement.

Al-Khatib is a former adviser to the royal court, was the minister of health between 2014 and 2016, and served as the chairman for the Saudi stock company established in 2006, Jadwa Investment.

Al-Khatib has 23 years of experience in banking. In 1992 he joined the Bank of Riyad, working in various departments for 11 years and helping to establish the customer investment department. 

In 2003, Al-Khatib joined SABB Bank and participated in the establishment of Islamic Banking (Amanah). He then became the bank’s general manager.