Saudi Arabia: Poll public opinions on the draft regulation of the privatization system
Wednesday – 6 Dhu al-Qi’dah 1442 AH – 16 June 2021 AD
Privatization System Regulations List Methods of Partnership between the Public and Private Sectors (Middle East)
Riyadh: «Middle East Online»
The executive regulation aims to organize the work of privatization projects and clarify the procedures and mechanism of the workflow in them, as well as clarify the aspects stipulated in the system.
The regulation provides for the development of plans for privatization projects, methods of partnership between the public and private sectors, projects for the transfer of ownership of assets and the mechanisms for their introduction, implementation, and contracting, and the necessary conditions and controls for this. It shows the mechanisms and procedures for grievances submitted against the procedures for offering and awarding privatization projects, and the legal aspects related to this.
The Privatization Center believes that the process of issuing laws and regulations “requires joint efforts and contributions from the public and all stakeholders, in order to reach effective legislation that meets the needs and requirements of all relevant parties.”
He stressed that the opinions submitted will be carefully studied and taken into account before adopting the final version of the executive regulations for the privatization system.