Saudi Arabia’s Minister of Finance Mohammed bin Abdullah Al-Jadaan has announced the launch of the National Privatization Strategy, marking the conclusion of the Kingdom’s privatization program approved by the Council of Economic and Development Affairs.
The minister said the privatization program has met its objectives since its launch, including the establishment of the National Center for Privatization (NCP). The program has developed more than 200 approved projects with total investments estimated at SR800 billion and enabled the signing of nearly 90 contracts across various sectors, including ownership transfers and public-private partnership agreements.
According to Al-Jadaan, the program has strengthened private sector participation, improved the efficiency of government asset operations, and enhanced the legislative and regulatory environment to support investment and economic diversification.
The newly launched National Privatization Strategy, approved by the Council of Ministers, aims to improve infrastructure quality, enhance public services, expand the private sector’s role in sustainable development, and reinforce financial sustainability in line with Vision 2030.
The strategy targets higher satisfaction with public services across 18 sectors, the creation of tens of thousands of specialized jobs, more than 220 public-private partnership contracts by 2030, and private sector investments exceeding SR240 billion. It also includes multiple programs and executive initiatives to identify and prioritize high-value privatization opportunities for investors.
Saudi Finance Minister Announces Launch of National Privatization Strategy
