Prime Highlight:
- Saudi Arabia has launched a new National Privatization Strategy to strengthen private sector participation and support economic growth under Vision 2030.
- The strategy focuses on improving infrastructure and public services while positioning the Kingdom as a global leader in public-private partnerships.
Key Facts:
- The privatization program has approved over 200 projects worth around SR800 billion ($213.4 billion) and signed nearly 90 contracts across multiple sectors.
- By 2030, the strategy aims to secure more than 220 public-private partnership deals and attract over SR240 billion in private sector investments.
Background:
Saudi Arabia has launched its National Privatization Strategy to boost private sector involvement and support the Kingdom’s long-term economic plans under Vision 2030.
The announcement was made by Minister of Finance and Chairman of the National Center for Privatization (NCP), Mohammed bin Abdullah Al-Jadaan, who confirmed that the Council of Economic and Development Affairs has approved the conclusion of the Kingdom’s privatization program after successfully meeting its planned objectives.
Since its launch, the privatization program has approved over 200 projects worth about SR800 billion ($213.4 billion) and signed nearly 90 contracts across multiple sectors through ownership transfers and public-private partnerships.
Al-Jadaan said the program has helped expand private sector involvement, improve the management of government assets, and strengthen laws and regulations that support investment. These efforts have contributed to economic diversification and increased the Kingdom’s competitiveness at both regional and global levels.
The National Privatization Strategy, approved by the Council of Ministers on Nov. 25, aims to improve infrastructure, raise the quality of public services, and support long-term economic growth. It also allows the government to focus on regulation and oversight while strengthening financial stability.
Speaking on the initiative, Al-Jadaan said the Kingdom is committed to building efficient, high-quality infrastructure that can deliver world-class services to citizens, residents, and visitors, while establishing Saudi Arabia as a leading global model for public-private partnerships.
It is supported by five programs and 42 initiatives, along with a dedicated plan that has already identified over 145 key privatization opportunities for private investors.
