Public Invited To Provide Feedback On 20 Economic Projects Via Istitlaa Platform

The National Competitiveness Center's Istitlaa platform has introduced 20 projects focused on economic and development matters. Collaborating with 10 government bodies, the center seeks input from the public, government entities, and private sector before these projects receive approval.

A significant project on Istitlaa is the ‘General Rules for Secondary Use of Data,’ crafted by the Saudi Data & AI Authority (SDAIA). This initiative aims to set guidelines for data-sharing requests for secondary purposes. It allows access to data that can enhance government operations and activities, serving the public interest.

The Capital Market Authority (CMA) is also inviting public feedback on two initiatives. The first involves a new regulatory framework titled ‘Allow Offering Special Purpose Acquisition Companies (SPACs) on the Parallel Market.’ This framework seeks to streamline SPAC listings in the parallel market by setting conditions for submitting registration and offering requests to CMA.

The second CMA project is an amendment framework called ‘Offering and Listing of Different Classes of Shares.’ It aims to regulate the process for offering and listing various share classes. Public consultation for this project will be open until May 8-9, 2025.

By introducing draft regulations and similar projects via Istitlaa, transparency in legislative processes is affirmed. The platform promotes a culture of public involvement by allowing citizens, government bodies, and private sectors to provide insights on proposed business-related regulations.

Feedback on SDAIA's data-sharing project can be submitted until a specified deadline. These consultations reflect a commitment to involving diverse stakeholders in shaping policies that impact economic and development affairs.

With inputs from SPA