Representatives from 11 large British enterprises have been conducting business talks in the Kingdom of Saudi Arabia for the past two days, reported Al-Sharq Al-Awsat . The talks reportedly focus on the importance of accelerating privatization in Saudi telecom, insurance and other service sectors.
Participating sources also stressed the importance of supporting small and medium sized service enterprises by providing appropriate management consulting.
Meeting with several Saudi ministers and officials, the head of the British delegation, Andrew Backston, a major consultant at Barclays Bank, stated that several British companies are negotiating the privatization of several mobile telecommunication and insurance companies in the Kingdom of Saudi Arabia.
These companies are waiting for the necessary permits and legislation to be issued, so that foreign companies can invest in them. — (Mena Report)
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