KSA: Group of Investors Briefed on 100 Privatization Opportunities

KSA: Group of Investors Briefed on 100 Privatization Opportunities
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KSA: Group of Investors Briefed on 100 Privatization Opportunities

KSA: Group of Investors Briefed on 100 Privatization Opportunities

Saudi Arabia has hosted a huge banking and investment group in Riyadh, including 67 banks and financial companies that were briefed on up to 100 potential privatization opportunities in the Saudi public sector.

Spokesman of the National Center For Privatization (NCP) Hani al-Sayegh noted that the center is exploring more opportunities that can be privatized in government institutions.

There is a list of 100 current opportunities, he added, saying that the access of giant investment firms to privatization and the public-private partnership has been facilitated.

The gathering encompassed a number of executive managers of local and international banks as well as financial companies operating in the kingdom. Representatives of 67 commercial and investment banks and financial firms also attended.

This meeting showcased current investment opportunities to be issued from sectors targeted with privatization. It also shed light on the features and components of these sectors and presented the NCP’s plans to attract international and local investors to take part in the privatization opportunities.

Sayegh affirmed that convening with banks and financial companies is vital because of their role as partners in boosting privatization and public-private partnership via funding, consultations, and producing innovative financial products.

He stressed that banks play a positive role in stimulating international and local investments, introducing new prospects in the national economy, and upgrading services provided to citizens and residents.

Sayegh said this was the third meeting for NCP with the business sector since the beginning of the year. The first was with businessmen in a number of commercial chambers in the kingdom and then with businessmen in Eastern Province.

The center aims to hold meetings with various business sectors to establish a knowledge base for the private sector and to support public-private partnerships, in addition to supporting privatization opportunities.



EU May Suspend Syria Sanctions on Energy and Transport

FILE PHOTO: A general view of the commercial harbor of Syria's coastal city of Tartous, Syria, December 14, 2024. REUTERS/Umit Bektas/File Photo
FILE PHOTO: A general view of the commercial harbor of Syria's coastal city of Tartous, Syria, December 14, 2024. REUTERS/Umit Bektas/File Photo
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EU May Suspend Syria Sanctions on Energy and Transport

FILE PHOTO: A general view of the commercial harbor of Syria's coastal city of Tartous, Syria, December 14, 2024. REUTERS/Umit Bektas/File Photo
FILE PHOTO: A general view of the commercial harbor of Syria's coastal city of Tartous, Syria, December 14, 2024. REUTERS/Umit Bektas/File Photo

The European Union may soon suspend sanctions on Syria related to energy and transport but has yet to agree on whether to ease restrictions on financial transactions, according to three diplomats and a document seen by Reuters.
EU foreign ministers will discuss the matter at a meeting in Brussels on Monday. The bloc’s foreign policy chief Kaja Kallas told Reuters on Wednesday she hopes a political agreement on easing the sanctions can be reached at the gathering.
Europe’s approach to Damascus began to shift after Bashar al-Assad was ousted as president in December by Hayat Tahrir al-Sham (HTS), which the United Nations designates as a terrorist group.
Officials see transport as key for helping Syria’s airports become fully operational, which in turn could facilitate the return of refugees. Energy and electricity are similarly seen as important for improving living conditions to help stabilize the country and encourage citizens to come back.
According to an EU document seen by Reuters, diplomats from the bloc's 27 members recommended taking swift action towards suspending the restrictions "in sectors necessary for economic stabilization and launch of economic reconstruction of Syria, such as those regarding energy and transport”.
The diplomats, who are part of a group that negotiates the EU’s foreign policy positions on issues related to the Middle East and North Africa, also recommended “assessing options for reopening banking and investment relations with Syria”.
“The easing of EU restrictive measures would be rolled out in a staged approach and in a reversible manner, regularly assessing if the conditions in Syria allow for further suspension,” the diplomats wrote, pointing to the need for respect for fundamental freedoms and an inclusive transition.
The wording of the document represents a compromise among EU capitals. Some governments want to move quickly to suspend sanctions, while others prefer a more careful and gradual approach to ensure Europe retains leverage.
If a political agreement is announced on Monday, European officials would proceed to work on the technical details of a suspension.
A number of sanctions should remain in place, according to the document, including measures related to the Al-Assad regime, illicit drug trade and arms trade.