No delays in private sector’s payments, says Saudi ministry

Updated 21 January 2019
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No delays in private sector’s payments, says Saudi ministry

  • Foreign investment in Saudi Arabia more than doubled in 2018 to reach $3.5 billion

JEDDAH: Saudi Arabia’s Finance Ministry has confirmed that 97 percent of its payments for private sector contracts are paid within 30 days of issue, with 99 percent paid within 60.

The remaining 1 percent of payments, the ministry said, were not made due to court orders, or as a result of disputes between the government and the client, and were subject to contractual dispute resolution mechanisms. 

Foreign investment in Saudi Arabia more than doubled in 2018 to reach $3.5 billion.

Attracting foreign investment is a key part of the Vision 2030 plan to diversify the economy away from oil revenues. 

The Kingdom is also taking all steps to make small and medium enterprises the main engine for economic development. 

 


Saudi Arabia arrests 13 accused of planning terrorist attacks

Updated 22 April 2019
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Saudi Arabia arrests 13 accused of planning terrorist attacks

  • Four attackers were killed in failed terrorist attack claimed by Daesh on Interior Ministry building in Zulfi
  • The Presidency of State Security released identities of the 4 attackers

RIYADH: Thirteen people were arrested after finding plans to execute criminal acts that were targeting the Kingdom’s security, Saudi Press Agency (SPA) reported on Monday.
The statement published by SPA included the names of the 13 men arrested, in addition to their civil ID numbers.
The spokesperson for the Saudi Presidency of State Security said explosive belts were found during a raid on the house of the Zulfi attackers.
Four heavily armed attackers were killed in a failed terrorist attack claimed by Daesh on an Interior Ministry building in Zulfi, north of Riyadh on Sunday.
The four terrorists that were killed belonged to Daesh.
The Presidency of State Security released the identities of the four attackers: Abdullah Hamoud Al-Hamoud, Abdullah Ibrahim Al-Mansour, Samer Abdulaziz Al-Madid and Salman Abdulaziz Al-Madid.

Saudi authorities discovered a house in Al-Rayyan neighborhood in Zulfi governorate, rented by Abdullah Al-Hamoud, one of the four perpetrators, where they found what resembled to be a factory for manufacturing explosives and explosive belts.
A total of five explosive belts were found, four of which were worn by the perpetrators, and another inside a car. The belts contain detonating keys and grenades with shrapnel-like screws.
Authorities also seized 64 homemade grenades, 61 pipe fittings, of which nine were being processed as pipe bombs, three mobile phones, three pressure cookers ready for detonation, two Kalashnikov machine guns, six pistols, and other various weapons.
They also found four bags (74,900 kg) containing organic fertilizers, along with sets of laboratory glass containers, a number of plastic containers, a package of liquid chemical containers, sulfur-fiber cartons, a homemade explosive detonator and a set of screws that were equipped with shrapnel.
Authorities also seized a set of ATM cards, two national identity cards, SR 228, a number of publications and CD-ROMs with content related to terrorist organization.
The Presidency of State Security said it is continuing to follow up with terrorist elements that threaten the security and stability of the Kingdom.