RIYADH, Jan 30 (NNN-SPA) – Saudi Arabia has begun implementing its National Privatisation Strategy, following approval by the Cabinet, Saudi Minister of Finance, Mohammed Al-Jadaan said, yesterday.
The minister noted that, the privatisation strategy seeks to strengthen the private sector’s role in sustainable development, enable the government to focus on its legislative, supervisory, and regulatory roles, and enhance fiscal sustainability, in line with the objectives of Saudi Vision 2030.
During the implementation process, the kingdom targets signing more than 220 public-private partnership contracts, and increasing private-sector capital investments, to more than 64 billion U.S. dollars by 2030.
The strategy also aims to build future-ready infrastructure of high quality and efficiency, and improve the public services provided to the kingdom’s population, added Al-Jadaan.
He said that, the strategy received Cabinet approval in Nov, last year.– NNN-SPA