Riyadh: The National Competitiveness Center’s Public Consultation Platform, Istitlaa, has put forward 27 projects related to economic and development affairs. In cooperation with 15 government agencies, the NCC invites the general public, government agencies, and the private sector to express their views and feedback on projects prior to their approval.
According to Saudi Press Agency, key projects presented on the platform include a project titled ‘Endowment Governance Principles’ developed by the General Authority for Awqaf. The project aims to establish governance principles that significantly contribute to achieving the objectives and purpose of the endowment. The public can provide feedback on this project through the Istitlaa platform until April 21, 2025.
The Ministry of Justice is seeking public feedback on a new regulatory framework titled ‘Amendments to the Implementing Regulations of Enforcement Law.’ This project aims to streamline the enforcement judiciary, promote preventive justice, and expedite contract enforcement, thereby enhancing the Kingdom’s competitiveness and business environment. Public consultation on this project will remain open until April 23, 2025.
The Capital Market Authority is seeking public feedback on a new project titled ‘Development of the Categories of Investors in the Parallel Market.’ The project aims to develop the categories of investors permitted to invest in the Saudi Parallel Market (Nomu). Public consultation on this project will conclude on April 28, 2025.
The authority is also seeking public feedback on a new regulatory framework titled ‘Amendments of the Rules for Special Purposes Entities, the Glossary of Defined Terms Used in the Regulations and Rules of the Capital Market Authority, and Bylaws of Special Purposes Entities (SPEs).’ This project contains amendments to the glossary of terms and definitions for SPEs used in the rules and regulations of the Capital Market Authority, as well as the bylaws of SPEs. This framework strengthens SPEs as vehicles for debt and investment issuance by refining their governance, procedures, and securitization capabilities. Public consultation on this project will remain open until April 29, 2025.
