Saudi government agencies to use income sharing as a contracting method
The Saudi Cabinet has allowed government agencies to apply income sharing with the private sector, as one of the contracting methods to secure goods and services.
The Digital Government Authority, announced that income sharing would enhance the partnership between the private and public sectors, according to SPA.
It will also improve governmental services and motivate the private sector to complete projects on time, it said.
On Tuesday, newly listed company Arabian Contracting Services won a contract at Al Madinah province to develop advertising billboards, in a deal that falls under the income-sharing procedure, CEO Mohammed Al-Khuraiji told Asharq news.