The Saudi Council of Ministers has approved Private Sector Participation (PSP) Law.
The PSP Law aims to increase private sector participation in infrastructure projects and in the provision of public services to citizens and residents, by supporting public-private partnerships (PPP) and the privatization of public sector assets.
The PSP Law includes a number of legislative enablers that will enhance investor confidence in the PPP&P process, strengthen the enforcement of PPP&P contracts and ensure that the state will meet financial obligations arising from PPP&P contracts. In addition, the PSP Law addresses a number of specific challenges that PPP&P projects face in the Kingdom. It provides a framework for the public sector to participate directly in a project company while protecting the rights of the private partners. On the social front, the Law will c
