Sure, Investment Ministry sign SAR 100M framework agreement

Sure Global Tech Co. signed, on Dec. 26, an open framework agreement with the Ministry of Investment to develop the services and applications of technical investment systems, including maintaining current systems and providing consulting expertise to create new systems. 

The agreement runs for four years from the signing date and is estimated at SAR 100 million, the company said in a statement to Tadawul.

The agreement covers developing the ministry’s technical investment systems services, including maintaining the current systems and updating them to the latest versions, as well as applying the necessary technical systems.

Furthermore, it covers ensuring business continuity in the required technical systems to activate the ministry's operational model, which contributes to the Ministry's institutional strategy emanating from the National Investment Strategy (NIS), as it serves all initiatives and entities related to investment and the investor directly and indirectly through management, maintenance, and operation services of investment journey applications, the statement added.

The company expects this contract to have a positive financial impact on the company’s financials as of 2024, indicating that there were no related parties.