Minister of Economy and Planning Mohammed Al-Tuwaijri confirmed that regulations governing public-private partnerships are set to be issued soon, noting that privatization will be open to both the domestic and foreign private sectors. He indicated that a number of sectors\u2014including desalination plants, flour mills, airports, and transportation, and that there are plans for the healthcare sector that may be partial at first. Al-Tuwaijri explained the benefits of privatization in boosting the economy.<\/p>\n
This came during his meeting last Sunday with the chairman and members of the Riyadh Chamber of Commerce\u2019s board of directors, in the presence of a number of business leaders at the Chamber\u2019s headquarters, as part of the roundtable discussions program that the Chamber organizes periodically with Their Excellencies and ministers.<\/p>\n
At the start of the meeting, the Minister of Economy and Planning emphasized that the private sector is actively engaged in all discussions related to the Vision, noting that the Vision\u2019s plans are proceeding according to specific benchmarks and that some of the challenges can be summarized under three main areas: communication; major projects and the capacity to implement them; and the cost of those major projects and their financing channels.<\/p>\n
Regarding Saudization programs, Al-Tuwaijri noted that Saudization as a goal is undisputed, but that the issue of full implementation at a rate of 100 % is not correct. He emphasized the importance of correcting the labor market in phases and evaluating each phase, noting the importance of addressing fronting, as the shadow economy accounts for about 20 %, which necessitates correction. He added that the approach is moving toward strategically addressing fronting practices due to their economic, social, and security implications.<\/p>","protected":false},"excerpt":{"rendered":"
Reading time: <\/span> < 1<\/span> Minute<\/span><\/span>Minister of Economy and Planning Mohammed Al-Tuwaijri confirmed that regulations governing public-private partnerships are set to be issued soon, noting that privatization will be open to both the domestic and foreign private sectors. He indicated that a number of sectors\u2014including desalination plants, flour mills, airports, and transportation, and that there are plans for the healthcare sector that may be partial at first. Al-Tuwaijri explained the benefits of privatization in raising \u2026 Read 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