The Saudi Public Investment Fund (PIF) has been making strong efforts to enhance the participation of local contractors in the projects of the fund’s affiliates, to enable establishments to carry out development work in accordance with the highest quality standards.
In June, the Saudi Contractors Authority, in cooperation with the fund, launched the contractor pre-qualification program for the fund’s units.
The program aims to provide various services and facilities, enabling contractors to pre-qualify under the applicable technical standards. It will also provide a highly reliable indicator for PIF’s affiliates to implement construction projects with the local private sector.
According to official information, PIF is currently working with the Saudi Contractors Authority of the Federation of Saudi Chambers to hold a number of workshops across the Kingdom to introduce the fund’s projects and facilitate the registration mechanism.
The Saudi Contractors Authority (SCA) had urged all contractors to register in Muqawil portal to start pre-qualification for various projects under PIF’s affiliates program.
According to a statement by the SCA, the pre-qualification program enhances contractor opportunities by undertaking quality projects for the sovereign wealth fund’s affiliates. The service offers a platform that includes several of PIF’s units in a unified pre-qualification program.
The program also seeks to enhance competitiveness and transparency in the contracting sector and allows development of existing and future projects, in line with the highest quality standards, the statement added.
Meanwhile, the SCA and DMG Events concluded on Thursday an agreement to organize the Saudi Infrastructure Summit 2023 during the Saudi Infrastructure Exhibition on Sept. 11-13 in Riyadh.
The summit will focus on the revolutionary transformation of the infrastructure in the Kingdom with the participation of more than 60 influential speakers and 400 international and local experts.
