The Parliamentary Economic and Investment Committee warned today, Monday, that the government will have legal procedures and financial obligations due to canceling investment licenses for lagging projects, while the committee finalized the two legal projects for the national partnership between the public and private sector and mineral investment.
"One of the most important projects that will support the economy is the partnership between the public and private sectors and mineral investment, because they are two projects that generate money on the state treasury if they are used in a professional manner without being touched by the hands of corruption," said a member of the committee, MP Nawfal Al-Naseeh, in a press statement.
He added, "The committee insists on completing the final formulas to vote on the draft national partnership law, in a way that contributes to restoring the spirit of the private sector in society, returning local factories to production, in addition to reducing unemployment rates."
He pointed out that "the committee supported the government's decision to cancel the staggering investment licenses," stressing "the importance of the step taken by the government towards canceling the licenses of lagging investment projects, but beware that the state entails legal measures and punitive financial obligations."
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