Saudi Arabia's $300-billion privatisation programme was billed as the sale of the century when Crown Prince Mohammed bin Salman unveiled his plan to great fanfare. Nineteen months later, it is moving at a snail's pace, bankers, investors and analysts familiar with the process say. The main problems they cite are heavy bureaucracy, an inadequate legal framework, frequent changes of priority in government departments and fatigue among investors. Some also blame a wait-and-see approach among many investors due to uncertainty about the fallout from an anti-corruption ...
$300-bn Saudi state sell-off moves slowly
Shortcomings include the absence of framework for large-scale public-private partnership projects and bankruptcy law