Saudi Cabinet enables govt agencies to use income-share to secure goods and services

16/11/2021 Argaam

Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud

The Saudi Cabinet, during its session today, Nov. 16, chaired by the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, approved to allow government agencies to use income-share agreement (ISA) as one of the contracting methods to secure goods and services.

 

The Cabinet also issued its resolution ratifying the rules of work for the Permanent Committee of Overseas Exam Centers for Expatriate Employees, Saudi Press Agency reported.

 

In addition, the Cabinet authorized the Minister of Energy - or his representative - to discuss with the Chinese side a draft memorandum of understanding (MoU) between the Ministry of Energy and the National Energy Commission (NEC) of China in the field of hydrogen.

 

The Minister of Energy - or his representative – will be mandated to sign the MoU and submit the final copy in order to finalize the regular procedures.

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