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Private Sector Participation Law (PSP Law) of 2021.

Country/Territory
Saudi Arabia
Document type
Legislation
Date
2021
Source
FAO, FAOLEX
Subject
General
Keyword
Public private partnership (PPP) Business/industry/corporations Procedural matters
Geographical area
Asia, Middle East, Near East and North Africa, Persian Gulf, Red Sea & Gulf of Aden, Western Asia
Entry into force notes
This Law enters into force 120 days after its publication in the Official Gazette.
Abstract

This Law consisting of 45 articles regulates the environment in which PPP and privatization projects are undertaken in Saudi Arabia and covers any relationship between the public and private sector arising out of a contractual arrangement, which relates to infrastructure or the delivery of public services. The Government seeks, through PSP projects, to achieve the following objectives (i) support achieving the strategic objectives of Government entities, rationalize public expenditure, increase Government revenues, raise the efficiency of the national economy, and increase its competitiveness; (ii) enhance the coverage and the quality of services, and the availability of services at the appropriate time and cost; (iii) encourage local and foreign private sectors to invest and actively participate in the national economy, and increase the private sector’s share of the Gross Domestic Product (GDP) resulting in economic growth; (iv) increase the participation of citizens in the ownership of Government Assets, increasing employment opportunities, and the optimal utilization of the national workforce.

Full text
English
Website
www.ncp.gov.sa