Booz Allen Hamilton Inc. has showed Saudi’s Asharqia Chamber of Commerce how government decisions on nationalization policies and labor market could pose both opportunities and challenges to the economy.
Saudi Arabia’s economic diversification program has helped propel the country’s construction boom, based on a recent simulation workshop held with the private and government sectors, the Saudi Gazette reports.
The simulation aimed to assess various policy initiatives, gauge their theoretical impact on nationalization efforts, forecast the success of projects and ensure profit for contractors.
“The key theme derived from the simulation was the critical importance of raising awareness around both the challenges and opportunities presented by nationalization policy implementation,” said Don Pressley, Booz Allen Hamilton’s MENA general manager.
“In doing so, our goal is to identify solutions that can serve the commercial aspirations of Saudi companies operating in the contracting sector, while also responding to the government’s need for job creation,” Pressley added.
The Saudi Ministry of Commerce recently enlisted Booz Allen Hamilton to provide services to government and commercial customers in cyber security, information technology, financial services, portfolio management and critical infrastructure.
The agreement will support Saudi’s domestic economic diversification, according to the Saudi Gazette.