Issuance of the Private Sector Participation Law in Saudi Arabia

Saudi Arabia: The Saudi Press Agency announced today the approval of the long-awaited Private Sector Participation Law, making Saudi Arabia the latest country in the region to have adopted legislation governing public-private partnerships. The new law is certain to facilitate Saudi Arabia’s ambition to launch the region’s leading projects in tourism, industrial development and environmental sustainability, including the Red Sea tourism development project, the incubation of a manufacturing sector and the launch of the smart city of NEOM as a model for sustainable living.