Saudi Arabia Publishes Draft Law for Public Private Partnerships
July 11, 2018 – Saudi Arabia’s National Center for Privatization and Public-Private Partnerships has published a draft law to increase public private partnerships (PPPs). The draft law includes a loosening of real estate ownership restrictions and exemptions from labor laws, including the minimum requirements for the ratio of Saudi citizens in their workforce. The new laws for PPPs will launch billions of dollars worth of infrastructure projects and attract fresh foreign investment. By 2020, the Kingdom aims to achieve $9 billion to $11 billion of non-oil revenue from privatization. Prior to promulgation, the National Center for Privatization and Public-Private Partnerships will receive public comment on the draft for three weeks.