Regulation gives SMEs preference in public tenders

Dr. Ghassan bin Abdulrahman Al-Shibl, LCGPA chairman.
Updated 02 December 2019

Regulation gives SMEs preference in public tenders

A regulation granting local content, Saudi SMEs and publicly listed companies preference in public tenders was affirmed by the Council of Ministers. The regulation, part of the new Tenders and Procurement Law, was developed jointly by the Local Content and Government Procurement Authority (LCGPA) in cooperation with the Ministry of Finance and relevant government entities. 

The regulation incorporates a new local content development framework with several local content policies that aim to boost local capacities and develop national industries as well as ensure national products are given priority in the price preference policy in public tenders. 

The endorsed regulation includes a mandatory list of national products that must be purchased from local manufacturers or suppliers. 

LCGPA will cooperate with the Center of Spending Efficiency to determine the types of projects where other local content mechanisms may apply. 

Dr. Ghassan bin Abdulrahman Al-Shibl, LCGPA chairman, said: “Applying these policies will enhance the private sector’s capacities and fortify its role in national economic development thus contributing to a growth in non-oil GDP and creating jobs.”

Government entities are required to implement local content policies within their tenders. Al-Shibl addressed LCGPA’s role in ensuring compliance to the preference regulation. “The contracting parties shall be responsible for abiding by the local content requirements in their tenders, and adhering to the mandatory list of products to be purchased from national manufacturers in all contracts whose scope of work involves products included in the list,” he said.


Production of Aston Martin DB5 resumes after 55 years

Updated 31 May 2020

Production of Aston Martin DB5 resumes after 55 years

Dubbed “the most famous car in the world” and renowned as being among the most sought-after classic Aston Martin models, the DB5 has become a byword for timeless style and sports car desirability. Fewer than 900 saloon examples were built by the brand between 1963 and 1965, with by far the most famous of the original owners being the world’s best-known secret agent — James Bond — who first drove the car that is today inextricably linked with him in the 1964 film, Goldfinger.

Now, 55 years after the last new DB5 rolled off the production line at Aston Martin’s then-global manufacturing base in Newport Pagnell, Buckinghamshire, work is once again underway there on a strictly limited number of new DB5 models. Created in association with the producers of the James Bond films, EON Productions, and featuring a broad suite of working gadgets first seen on screen in the 1964 film, the Aston Martin DB5 Goldfinger Continuation cars are history in the making.

Each DB5 Goldfinger continuation car is priced at 2.75 million euros ($3.05 million), plus taxes.

The DB5 Goldfinger Continuation construction process — which takes around 4,500 hours per car — is being undertaken at Aston Martin’s Heritage Division headquarters in Newport Pagnell, Buckinghamshire.

Each of the 25 new cars is being built using a blend of Sir David Brown-era old world craftsmanship, with the application of modern engineering advancements and performance enhancements, alongside the integration of cutting-edge gadgets developed in association with Chris Corbould OBE, the special effects supervisor who has worked on more than a dozen Bond films.

Clive Wilson, Heritage program manager, said: “Seeing the first customer car move painstakingly through the intricate production process we have created really is quite a thrill.

“Obviously we have not, as a business, made a new DB5 for more than 50 years, so to be involved in the building of these cars, which will go on to form part of Aston Martin’s history, is something I’m sure all of us will be telling our grandkids about!”

Paul Spires, president of Aston Martin Works where the original DB5 was built and the new cars are also being created, said: “We are making, perhaps, some of the most desirable ‘toys’ ever built for 25 very lucky buyers worldwide.

“Creating the DB5 Goldfinger Continuation cars and working with EON Productions and special effects supervisor, Chris Corbould, is something truly unique and a real career highlight for everyone involved here at Aston Martin Works.”

First deliveries of the DB5 Goldfinger Continuation to customers will commence in the second half of 2020.