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Greater cooperation between government and private sector key to success in building Saudi economic future, says Booz Allen Hamilton

Saudi Arabia: Saturday, April 20 - 2013 @ 14:57

Booz Allen Hamilton, in partnership with Asharqia Chamber of Commerce, sought to highlight the opportunities and challenges presented by decisions relating to nationalization policies and the associated labor market parameters.

The initiative is the first step in giving key policy makers insight into the likely outcomes of their decisions.

The Kingdom’s economic diversification program has resulted in strong growth within the construction industry, now one of the most vital industries for the domestic economy.

The Simulation Workshop measured a variety of potential policy initiatives, and sought to evaluate their theoretical impact on nationalization initiatives (e.g. Nitaqat & Hafiz), the likelihood of a project’s success and the contractors’ profitability.

Don Pressley, Booz Allen Hamilton’s MENA General Manager, commented on the outcomes of the simulation, “The key theme derived from the simulation was the critical importance of raising awareness around both the challenges and opportunities presented by nationalization policy implementation. In doing so, our goal is to identify solutions that can serve the commercial aspirations of Saudi companies operating in the contracting sector, while also responding to the government’s need for job creation.”

Booz Allen Hamilton was recently registered by the Kingdom of Saudi Arabia Ministry of Commerce and Industry to pursue business opportunities in the Kingdom in support of domestic economic diversification.

The firm will provide services to government and commercial clients on critical issues related to the Kingdom’s development, most notably in the areas of cyber security, information technology, financial services, portfolio management and critical infrastructure.

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Saturday, April 20- 2013 @ 14:57 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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