Riyadh: Minister of Finance and Chairman of the Board of Directors of the National Center for Privatization and PPP (NCP) Mohammed Aljadaan has declared that the Council of Economic and Development Affairs has granted approval to finalize the Privatization Program, following the successful execution of its projects and initiatives as per the established plan.
According to Saudi Press Agency, the minister noted that since its launch, the Privatization Program achieved several accomplishments, most notably the establishment of NCP, which developed more than 200 approved projects with total investments reaching $213 billion. The program also oversaw the signing of nearly 90 contracts, including asset transfer and public-private partnership (PPP) agreements across several sectors. In addition, it contributed to strengthening the role of the private sector, improving the operational efficiency of government assets, and developing the legislative and regulatory environment supportive of investment, thereby supporting economic diversification and enhancing the Kingdom's competitiveness.
The minister of finance also praised the approval of the National Privatization Strategy by the Cabinet on November 25, 2025. He announced the commencement of the implementation of the National Privatization Strategy, which aims to enhance the quality and efficiency of infrastructure and advance the public services provided to the Kingdom's population. The strategy also seeks to strengthen the role of the private sector in sustainable economic 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.
Aljadaan stated: 'In the Kingdom, we strive to establish future-ready infrastructure with high quality and efficiency, ensuring that public services delivered to citizens, residents, and visitors are among the best in the world, while strengthening the Kingdom's position as a global reference in public-private partnerships."
The National Privatization Strategy aims to increase satisfaction with services provided to citizens, residents, and visitors across 18 targeted sectors by creating tens of thousands of high-quality jobs. It also targets signing more than 220 public-private partnership contracts by 2030 and increasing private-sector capital investments to more than $64 billion by 2030.
The strategy has outlined five main programs to enable and advance the privatization ecosystem, along with 42 executive initiatives to achieve its objectives and the privatization-related targets of Saudi Vision 2030. It also includes an executive program focused on identifying and prioritizing privatization opportunities, through which more than 145 priority opportunities have been identified, representing attractive investment prospects for the private sector.
The launch of the National Privatization Strategy marks the conclusion of the Privatization Program in accordance with the plan set at its inception in 2018, and the transition from the foundational phase, successfully completed by the program, to the implementation phase and acceleration of delivery, as the Privatization Program has fulfilled the core purpose for which it was established.