Saudi Accreditation Center to Enhance Quality, Protect Consumers

A general view of Riyadh, Saudi Arabia. (SPA)
A general view of Riyadh, Saudi Arabia. (SPA)
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Saudi Accreditation Center to Enhance Quality, Protect Consumers

A general view of Riyadh, Saudi Arabia. (SPA)
A general view of Riyadh, Saudi Arabia. (SPA)

Saudi Arabia is looking to raise quality standards through the Saudi Accreditation Center (SAC), which revealed its objectives, including consumer protection, maintaining public health and safety, upgrade the quality and adequacy of services and products, and increase confidence in them.

The Center’s regulation shall include the definition of approved conformity assessment bodies, which are accredited by the Center.

The conformity assessment entails verifying that the specific requirements of a product, process, system or assessment body have been met.

The Center enjoys legal personality, financial and administrative independence, and is organizationally linked to the Minister of Trade and Investment. Its headquarters are located in Riyadh and, as required, may establish branches or offices within Saudi Arabia.

The Center shall establish all that is necessary to achieve its goals in acquiring accreditation bodies inside and outside the Kingdom.

This shall be done in accordance with the requirements approved by the board and the mutual recognition of the accreditation certificates of the conformity assessment bodies issued by the accreditation bodies in other countries in accordance with international practices and requirements.

SAC shall join international and regional organizations and bodies related to its activities and sign memorandums of understanding and agreements with them, in accordance with the established procedures.

It will also provide training services and qualify the assessors in the field of conformity assessment, as well as prepare a database of the center's activities. It shall coordinate with the governmental bodies in within the field of its activities, in order to contribute to the provision of data for the conformity assessment bodies for their adoption.

It shall also include studies, research and statistics relating to its activities and their publication in accordance with the rules and procedures established by the Council. The Center will also organize seminars and conferences related to its activities and represent the country in international and regional organizations.

The regulations of SAC were published after the Saudi cabinet has approved granting the Saudi Accreditation Committee independence, rebranding it as the Saudi Accreditation Center.

According to the regulations, the center will have a board of directors headed by the Minister of Trade and Investment, with representatives from the Ministry, Organization for Standardization, Metrology and Quality Organization, Food and Drug Authority, Building Code National Committee, and Consumer Protection Association, as well as three representatives from the private sector.

The board will be appointed by the cabinet upon the proposal of the Council of Saudi Chambers. Their term of office shall be three years and may be renewed for one time.

Article 6 provides that the board shall hold at least four meetings per year and whenever necessary, according to the discretion of its President, or upon the request of at least one third of its members.



Omani Revenues Rise 15% in 2024, Driven by Higher Oil Prices

The Omani Capital, Muscat (Omani News Agency)
The Omani Capital, Muscat (Omani News Agency)
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Omani Revenues Rise 15% in 2024, Driven by Higher Oil Prices

The Omani Capital, Muscat (Omani News Agency)
The Omani Capital, Muscat (Omani News Agency)

Preliminary data from Oman’s Ministry of Finance showed that the country’s revenues in 2024 reached approximately 12.7 billion Omani rials ($33 billion), marking a 15% increase compared to initial budget forecasts.

Spending was reduced to 11.65 billion rials ($30 billion), a 4% decrease from planned expenditure. This resulted in an actual surplus of 540 million rials, instead of the anticipated deficit of 640 million rials.

The improved financial performance was largely due to a 37% rise in the average price of oil, which reached $82 per barrel, compared to the initially projected $60. However, Oman’s average daily oil production saw a slight decline, dropping to 1.001 million barrels from 1.031 million barrels.

The additional revenue of 468 million rials was allocated to social spending and economic growth initiatives. This included funding for fuel subsidies, electricity, water, sanitation, and waste management. Health and education sectors received increased budgets to support service expansion, while additional funds were provided for social security beneficiaries, low-income families, and debt forgiveness for small and medium-sized enterprises.

Oman’s public debt declined by 5.3% in 2024, falling from 15.2 billion rials at the start of the year to 14.4 billion rials. Debt now represents 34% of GDP, down from 36.5%.

In November, the International Monetary Fund (IMF) reported significant economic expansion in Oman, with growth accelerating from 1.2% in 2023 to 1.9% in the first half of 2024. This growth was driven by non-oil sectors such as construction, manufacturing, and services, despite reduced oil production. The IMF highlighted Oman’s progress in implementing Vision 2040 reforms, which included strengthening social safety nets, improving labor market flexibility, and enhancing the business environment. The country’s sovereign credit rating was upgraded to investment grade, reflecting its improved economic fundamentals.

While growth in 2024 is projected at 1.2%, further recovery is expected in 2025 as hydrocarbon production increases alongside non-oil sector expansion. Challenges such as oil price volatility and geopolitical risks remain, but Oman continues its efforts to diversify the economy and attract investments.

Sultan Haitham bin Tariq approved Oman’s 2025 budget, which anticipates a deficit of 620 million rials ($1.6 billion). Revenues are estimated at 11.18 billion rials ($29 billion), a 1.5% increase from 2024, while spending is projected at 11.8 billion rials ($30.65 billion), a 1.3% rise.

Finance Minister Sultan al-Habsi emphasized that global economic uncertainties, including trade tensions and weaker oil demand, present challenges for oil-exporting nations. The 2025 budget focuses on maintaining fiscal and social stability, allocating significant funds to education, health, housing, and social welfare. Subsidies for social protection and electricity support are also prioritized.

Development spending across provinces reached 147 million rials by the end of 2024, aligning with efforts to promote decentralized growth. Oman is also undertaking financial reforms, including periodic reviews of government service fees, simplifying administrative processes, and modernizing financial regulations to improve fiscal management.