Saudi Telecom Company presents privatization case study
In the recently held Private Public Partnership Forum under the theme "Opportunities and Challenges," organized by the Islamic Foundation for Developing the Private Sector, Saudi Telecom presented a paper on its transformation from a public to a private enterprise. The paper was presented by Dr. Humood Al-Kussayer, VP regulatory affairs at Saudi Telecom.
Dr. Al-Kussayer said that the success of Saudi Telecom's transformation is attributed to the support of the government during the transition phase in addition to the effective and professional role of Communications and Information Technology Commission (CITC) in regulating and managing the communications market in the Kingdom confirming the fact that STC adopted the development of the telecommunications and IT market in the Kingdom as part of its responsibility.
Saudi Telecom also registered historic leaps in reinforcing and developing the infrastructure based on digital technology and providing highly advanced services for the various market sectors and according to the highest international standards making STC a key supporter of the development and growth of many government and commercial enterprises therefore enabling the Saudi economy to achieve further growth.
Dr. Al-Kussayer added: "STC gained a wealth of experience in external investment and studies many investment opportunities entering many serious competitive negotiations and dialogues. This resulted in strong gains which included the acquisition of 35 percent of Oger Telecom and a share in Maxis as well as winning 26 percent of the third mobile telephone license in Kuwait."
He added, "In my point of view this represents a quantum leap for Saudi Telecom transforming it into an international operator in par with global companies specializing in mobile telecommunications."
Dr. Al-Kussayer concluded by saying, "What makes Saudi Telecom unique is its ability to face obstacles and has proven so during the incident when the marine cables were cut. Saudi Telecom was able to maintain open communications channels especially for customers using internet services globally at a time when most countries in the Middle East and North Africa have been suffering."