Finance Minister Announces Launch of National Privatization Strategy
RIYADH — Saudi Arabia’s Minister of Finance and Chairman of the National Center for Privatization Mohammed bin Abdullah Al-Jadaan has announced the launch of the Kingdom’s National Privatization Strategy, marking a new phase in the country’s economic reform agenda.
Al-Jadaan said the Council of Economic and Development Affairs had approved the conclusion of the Kingdom’s privatization program, confirming that its initiatives were completed successfully in line with the approved plan.
Since its launch, the privatization program has achieved several key milestones, most notably the establishment of the National Center for Privatization (NCP). The NCP has overseen the development of more than 200 approved projects, with total investments estimated at SR800 billion ($213.4 billion).
The program has also facilitated the signing of nearly 90 contracts, including ownership transfer agreements and public-private partnership deals across multiple sectors. These efforts have helped strengthen the private sector’s role, improve the efficiency of government asset operations, and create a more robust legislative and regulatory environment that supports investment.
Al-Jadaan announced that the National Privatization Strategy was approved by the Council of Ministers on Nov. 25. The strategy aims to enhance infrastructure quality, improve public service delivery, and enable the government to focus on its legislative, supervisory, and regulatory responsibilities, while reinforcing financial sustainability.
The initiative is fully aligned with Saudi Vision 2030, supporting economic diversification and strengthening the Kingdom’s global competitiveness.
“Saudi Arabia seeks to establish a high-quality, efficient future infrastructure capable of delivering world-class public services to citizens, residents, and visitors,” Al-Jadaan said, adding that the strategy will reinforce the Kingdom’s position as a global reference for public-private partnerships.
According to the minister, the strategy targets higher satisfaction levels across 18 public service sectors, the creation of tens of thousands of specialized jobs, more than 220 public-private partnership contracts by 2030, and private-sector capital investments exceeding SR240 billion by the end of the decade.
To achieve these goals, the National Privatization Strategy has introduced five core programs supported by 42 executive initiatives. An additional executive program has been established to identify and prioritize key privatization opportunities, with more than 145 high-priority opportunities already identified for private-sector participation.
The launch represents a major step in Saudi Arabia’s long-term reform agenda, positioning privatization as a central pillar of sustainable growth and public service excellence.
