National Center for Privatization gets greenlight to buy, set up firms in Saudi Arabia

27/05/2019 Argaam

Saudi Arabia’s cabinet on May 7 approved amending the law governing the National Center for Privatization & PPP (NCP), according to the Kingdom’s official gazette.

 

Under these amendments, NCP will be authorized to buy and set up firms on behalf of the Saudi government to drive privatization projects.

 

NCP will have a board of directors headed by the chairman of the privatization program committee.

 

New acquisitions and establishments should be approved by the board of directors.

 

In March 2017, Saudi Arabia had approved establishing the National Center for Privatization, Argaam reported.

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