RIYADH: Saudi Arabia’s Minister of Finance and Chairman of the National Center for Privatization Mohammed bin Abdullah Al-Jadaan highlighted the Council of Economic and Development Affairs’ approval to conclude the Kingdom’s privatization program, noting that it had successfully completed its initiatives in line with the approved plan.
Al-Jadaan explained that since its launch, the privatization program has achieved a number of milestones, most notably the establishment of the NCP, which has created over 200 approved projects with total investments estimated at SR800 billion ($213.4 billion).
The program, he added, has also facilitated the signing of nearly 90 contracts, ranging from ownership transfer agreements to public-private partnership deals across multiple sectors.
In addition, it has contributed to strengthening the role of the private sector, improving the efficiency of government asset operations, and developing a legislative and regulatory environment that supports investment, thereby promoting economic diversification and enhancing the Kingdom’s competitiveness.
The minister announced the launch of the National Privatization Strategy, which was approved by the Council of Ministers on Nov. 25.
