​​Riyadh, October 2018: The National Center for Privatization & PPP (NCP) participated in a privatization event in Saudi Arabia called “Overcoming Regulatory and Sectoral Challenges to Maximise Opportunity” in Riyadh. The event was hosted by The Economist and Oliver Wyman. The Executive Vice President of NCP, Mohammed Alshaalan, opened the event. The discussion that followed revolved around the legal framework and transparency (building investor confidence in privatization), engaging Sultan Alqahtani, the Executive Vice President of Legal and Regulatory. The event ended with a discussion on the structure of privatization initiative, engaging Faisal Alsalloum, the Executive Vice President of Privatization Advisory. 

The representatives of the National Center for Privatization & PPP clarified that the Saudi Privatization Program is based on three pillars: institutional capacity building, establishing a legal and regulatory framework, as well as forming initiatives and their objectives. In terms of institutional capacity, we have developed the Privatization Program and founded the Privatization Supervisory Committees. In regards to the regulatory framework, we have launched and are reviewing the Draft Private Sector Participation Law. We have also launched the Privatization Projects Manual. As for the initiatives and their objectives, we have started the privatization process for our prioritized initiatives and are keen to support the sectors. NCP aims to increase the contribution of various international companies and investors to the national economy.  We are working on multiple projects related to privatization aimed at achieving Saudi Arabia’s Vision 2030’s goal of diversifying the economy beyond oil, increasing its effectiveness and vitality.