The Financial and Economic Committee is a permanent ministerial committee reporting directly to the cabinet. The committee approves the projects studied and assessed by the Technical Bureau and provide its opinion on these proposed projects and initiatives before the final approval by the Cabinet.
Each Federal Entity desiring to offer a project for investment or to contract with any investor for implementing projects on state-owned properties or on a land granted to the state by the local government shall submit this project to the Technical Bureau in order to submit thereof to the Financial and Economic Committee for considering all the technical, financial, legal and environmental aspects and other aspects the Committee deems necessary. The committee issues the initial consent on offering the project to investment and submits it to the Cabinet for the final approval.
Tasks of Financial and Economic Committee:
• Developing the general policies of projects and initiatives of strategic importance for the national economy.
• Approving initially the scope of projects and initiatives before their offering for investment.
• Referring the projects and initiatives to the Technical Bureau for study and prepare a report thereon.
• Identifying the Federal Entity concerned with the project to participate in offering the project and signing the contract.
• Granting the federal contracting entities the final approval on the contract termination or termination of the public interest.