2003 News Story

SEC approves stock market, private air transport proposals

Deputy Prime Minister and Commander of the National Guard Crown Prince Abdullah bin Abdulaziz, in his capacity as Head of the Supreme Economic Council (SEC), today chaired a meeting, attended by Second Deputy Prime Minister, Minister of Defense and Aviation, and Inspector-General Prince Sultan bin Abdulaziz, and by members of the Advisory Commission on Economic Affairs. The meeting formally approved the draft regulations for the stock market; the resolution to allow national companies to work in the sector of domestic air transport; and the proposal that government projects approved in the budget and details of signed government contracts be made public. These approvals will be submitted for completion of the necessary legal procedures.