Launched in 2018, the Privatization Program is laser-focused on supporting the growth of the national economy and enhancing the role of the private sector. The Program identifies government assets and resources in a number of sectors for privatization, with the aim of improving the quality of services offered to citizens and businesses, as well as reducing costs. Numerous sector privatization strategies are being developed across transport, health, education, and municipal affairs.
By unlocking Saudi Arabia's private sector, the Program is driving an innovative and transformative Kingdom, growing its new economy, empowering its citizens and delivering a future full of opportunity.
Major achievements of the Program include the enactment of the Saudi Privatization Law and establishment of the National Center for Privatization and Public Private Partnership (NCP). The Law establishes the rules and procedures for identifying government assets and services that can be privatized, while the NCP helps to create privatization frameworks and prepare these assets for privatization. The NCP also develops a pipeline of sectors and government assets that can be privatized or improved through private sector participation, maximizing their impact in the economy and society, and fiscal stability of the Kingdom.
These efforts are a testament to the Program's commitment to creating a welcoming business environment to attract private sector investment, and drive innovation and progress in Saudi Arabia.