20 Projects Open for Feedback through ‘Istitlaa’ Platform

The National Competitiveness Center’s Public Consultation Platform, Istitlaa, has put forward 20 projects related to economic and development affairs. In cooperation with 10 government agencies, the center invites the general public, government agencies, and the private sector to express their views and feedback on projects prior to their approval.

Key projects presented on the platform include a project titled ‘General Rules for Secondary Use of Data,’ developed by the Saudi Data & AI Authority (SDAIA). This project aims to establish controls and procedures that govern data-sharing requests for secondary use. It also enables entities to access data for secondary use purposes that will achieve public interest by enhancing the efficiency of government entities’ operations and activities. The public can provide feedback on this project until April 23, 2025.

The Capital Market Authority (CMA) is seeking public feedback on two projects. The first is a new updated regulatory framework titled ‘Allow Offering Special Purpose Acquisition Companies (SPACs) on the Parallel Market.’ This framework aims to facilitate the listing of SPACs in the parallel market by regulating the requirements and conditions to submit requests to CMA for the registration and offering of SPAC shares. The second project is a new amendment regulatory framework titled ‘Offering and Listing of Different Classes of Shares’, which aims to regulate the offering and listing process for various classes of shares. Public consultation on this project will remain open until May 8-9, 2025.

The introduction of draft regulations, by-laws, and similar projects through the Istitlaa platform serves as an affirmation of enhanced transparency in the legislative environment. Istitlaa fosters a culture of public participation by enabling citizens, government agencies, and the private sector to contribute their insights and feedback on proposed regulations related to the business environment.