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Privatization Program

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PROGRAM DESCRIPTION

The Privatization Vision Realization Program enhances the role of the private sector in the provision of services and the availability of government assets. This will improve in general the quality of services provided and contributes to the reduction of costs. Furthermore, it will strengthens the government's focus on its legislative and regulatory role, in line with the vision 2030. In addition, the program seeks to attract foreign direct investment and improve the balance of payments.

OBJECTIVES

Unlock state-owned assets for the Private Sector

Privatize selected government services

2020 COMMITMENTS

  • Contribute to reach to GDP 13-14 billion Saudi Riyals
  • Total government revenues from asset sales (under the guidance of the Supervisory Supervisory Committees) are 35-40 billion Saudi Riyals
  • Net government savings (capital expenditure and operating expenses) from privatization / partnership between the public and private sectors (under the guidance of the supervisory committees for privatization) 30-35 billion Saudi Riyals
  • Net government savings from operating expenses from privatization (asset sale) amounted to US $ 1.1.2 billion
  • Create 10,000-12,000 new private sector jobs