The Privatization Program aims to enhance the role of the private sector in providing services and making government assets available. This will improve the quality of services provided and contribute to the reduction of costs, also encouraging economic diversity and development, and boosting competitiveness to face regional and international competition. The program also seeks to attract Foreign Direct Investment and improve the balance of payments.
The Privatization Program was launched in 2018. It seeks to identify government assets and services that can be privatized in a number of sectors, develop the privatization system and its mechanisms, define public and private sector partnership frameworks to enhance the quality and efficiency of public services, and support contributions to economic development.
In the previous stage, the program succeeded in developing general frameworks for the privatization system through the enactment of the privatization law and the establishment of the National Center for Privatization. The Center aims to regulate the system project procedures and to enhance the participation of the private sector in a transparent and fair manner. It also aims to ensure the integrity of procedures related to contracts to provide an attractive regulatory and investment environment that stimulates private sector investment in the short and long term. The program also contributed to activating the sectors’ supervisory committees.
In the next stage, the program will focus its efforts on continuing to build the aforementioned enablers and intensify work to enhance the role of the private sector in providing services, maximizing the value gained from government assets, and raising the efficiency of spending. Moreover, sector privatization strategies will be developed in 16 sectors, including transport, health, education, municipal affairs, and others. This will enable government efforts to focus on legislative and regulatory issues.
H.E. Mr. Muhammad Abdullah Al-Jadaan
H.E. Dr. Tawfig Fawzan AlRabiah
H.E. Eng. Abdulrahman Abdulmohsen AlFadley
H.E. Mr. Majed Abdullah AlHogail
H.E. Eng. Ahmed Solaiman Al-Rajhi
H.E. Dr. Hamad Mohammed Al Sheikh
H.E. Mr. Bandar Ibrahim Alkhorayef
H.E. Eng. Saleh Nasser Al-Jasser
H.E. Mr. Faisal bin Fadel Al-Ibrahim
Unlock state-owned assets for the private sector
Privatize selected government services
The privatization of the four Milling Companies (MC) has completed; both phase one (MC1 and MC3) and phase 2 (MC2 AND MC4). This involved a competitive tendering process for the shares of the four milling companies to strategic investors.
Agreements for two water desalination projects, Jubail-3, for independent water production and Yanbu-4, for independent water production, were finalized.
The Privatization program finalized phase one of the initiative to attract private investment to finance the construction of educational buildings and launched the tender for phase two.