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, seeking to identify government assets and services that can be privatized in a number of sectors, develop the privatization system and mechanisms, define partnership frameworks between the public and private sectors to enhance the quality and efficiency of public services, and support contribution 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, which aims to regulate the procedures related to the projects of this system and to enhance the participation of the private sector in accordance with regulatory procedures 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 the private sector to invest 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 the building of the aforementioned enablers and intensifying 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, which will enable refocusing government efforts on legislative and regulatory roles.
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
Unlock state-owned assets for the private sector
Privatize selected government services
The privatization of the first and third flour milling companies has completed. This involved a competitive tender process for the shares of two 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.