Public Invited To Provide Feedback On 27 Economic Projects Via Istitlaa Platform

The National Competitiveness Center (NCC) has introduced 27 projects on its Public Consultation Platform, Istitlaa. These initiatives, developed with 15 government agencies, invite feedback from the public, government bodies, and private sector before approval. Among these is the 'Endowment Governance Principles' project by the General Authority for Awqaf, aiming to enhance governance in endowments.

The Ministry of Justice is also seeking input on a new regulatory framework called ‘Amendments to the Implementing Regulations of Enforcement Law.’ This initiative focuses on improving enforcement judiciary processes, promoting preventive justice, and speeding up contract enforcement. Such measures are expected to boost Saudi Arabia's competitiveness and business environment.

Another significant project involves the Capital Market Authority's proposal titled ‘Development of the Categories of Investors in the Parallel Market.’ This aims to refine investor categories allowed to participate in the Saudi Parallel Market (Nomu). The authority encourages public feedback on this initiative until a specified date.

The Capital Market Authority is also revising regulations concerning Special Purposes Entities (SPEs). The proposed amendments include changes to the glossary of terms and definitions used in SPE rules and regulations. These adjustments aim to improve governance, procedures, and securitization capabilities of SPEs as vehicles for debt and investment issuance.

Public consultation for these amendments will remain open until a designated date. By refining these frameworks, the authority seeks to strengthen SPEs' roles in financial markets.

The NCC's efforts through Istitlaa reflect a commitment to inclusive decision-making by engaging various stakeholders in shaping economic and development policies. This approach ensures that diverse perspectives are considered before finalizing projects that impact Saudi Arabia’s growth trajectory.

With inputs from SPA