Who is guarding the Kingdom’s national assets?
Although since the catastrophic Jeddah floods of 2009 it has been talked a lot about corruption and incompetence in government departments and city municipalities, the issue of state owned enterprises or SOEs has hardly received any attention. That given the fact that these SOEs make up about 50% of the country's non-oil economy and account for over 25% of the employees in the private sector. The management of the Kingdom's SOEs are rarely held responsible for the waste of public funds on the mismanagement of the country’s national assets. As the main reason for this, the way of choosing the boards of directors of these SOEs or state owned enterprises is pointed out.
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