Saudi Shoura asks TVTC to build technology incubators

Saudi students attending a technology training course in Riyadh. (SPA file photo)
Updated 21 March 2017
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Saudi Shoura asks TVTC to build technology incubators

RIYADH: The Shoura Council called on the Technical and Vocational Training Corporation (TVTC) to build technology incubators in its training facilities.
The council’s call came following comments by Shoura members on a report issued by the Committee of Education and Scientific Research.
The members asked the TVTC to coordinate with the Ministry of Education to expand the technical and vocational qualification project for general education students.
Later, council members listened to a report by the Committee of Islamic and Judiciary Affairs based on the annual report by the Bureau of Grievances (BG).
In its recommendations, the committee asked the Bureau of Grievances to lay down a plan to provide sufficient numbers of judges, and a timetable for the training and qualification of judges in coordination with specialized academies.
Council members also listened to a report by the Committee of Economy and Energy based on the annual report by the Saudi Standards, Metrology and Quality Organ (SASO).
In its recommendations, the committee urged government agencies to abide by Saudi specifications and standards in their purchases and activities. The committee also asked SASO to prepare a plan for provision of specialized personnel based on a specific training program.
One member asked for upgrading the role of SASO in regulatory and controlling areas, while another asked other government agencies to cooperate with SASO in fighting imitation and fake items. Another member called for finding a quality indicator for the quality of products sold in local markets.
The council listened to a report by the Committee of Water, Agriculture and Environment based on the annual report by the Ministry of Water and Electricity. The committee asked the ministry to reserve more locations for water supplies and protect them from random exploitation of underground water.
It also asked the ministry to address the unbalanced distribution of water and sewage services in the Kingdom. It further asked the ministry to include in its upcoming reports performance indicators related to electric generation, transmission and customer services.


Green light for crown prince-led Saudi privatization program

Updated 25 April 2018
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Green light for crown prince-led Saudi privatization program

  • The Privatization Program is one of 12 key elements of the Saudi Arabia’s Vision 2030
  • The program is aimed at increasing job opportunities for Saudi nationals

RIYADH: Saudi Arabia’s Council of Economic and Development Affairs on Tuesday approved the Privatization Program that is one of 12 key elements of the Kingdom’s Vision 2030. 

The program is aimed at increasing job opportunities for Saudi nationals, attracting the latest technologies and innovations, and supporting economic development.

It encourages both local and foreign investment in order to enhance the role of the private sector, with government entities adopting a regulatory and supervisory role. The aim is to increase the private sector’s contribution to GDP from 40 percent to 65 percent by 2030. 

The program will aim to reach its objectives through encouraging the private sector to invest in establishing new schools, universities and health centers, while the government pursues its organizational and supervisory role in health and education.

The privatization program aims to benefit from previous success stories, with the private sector’s collaboration in the development of infrastructure, and its involvement on a large scale in sectors such as energy, water, transport, telecommunications, petrochemicals and finance.

The program sets out a series of objectives in three areas: Developing a general legal framework for policies related to privatization; establishing organizational foundations and dedicated institutions to execute the policies; and setting a timescale for their delivery. 

The Council of Economic and Development Affairs is headed by Crown Prince Mohammed bin Salman.