Kingdom Targets $64 Billion in Private Sector Investment by 2030
Riyadh : Saudi Arabia’s Minister of Finance and Chairman of the National Center for Privatization, Mohammed bin Abdullah Al-Jadaan, announced the successful conclusion of the Kingdom’s privatization program, following approval by the Council of Economic and Development Affairs. The program, he said, had achieved its objectives in line with the approved plan.
Since its launch, the privatization program has reached several key milestones, including the establishment of the National Center for Privatization, which has approved over 200 projects with total investments estimated at SR800 billion ($213.4 billion). Nearly 90 contracts have been signed, covering ownership transfers and public-private partnership deals across multiple sectors.
Al-Jadaan emphasized that the program has strengthened the private sector, improved the efficiency of government assets, and created a legislative and regulatory framework conducive to investment, supporting economic diversification and enhancing the Kingdom’s global competitiveness.
The minister also announced the launch of the National Privatization Strategy (NPS), approved by the Council of Ministers on November 25. The strategy aims to enhance infrastructure quality, improve public services, boost the private sector’s role in sustainable development, and allow the government to focus on legislative, supervisory, and regulatory functions, all in alignment with Vision 2030.
Al-Jadaan said the NPS seeks to deliver high-quality infrastructure and world-class public services while positioning Saudi Arabia as a global reference for public-private partnerships. The strategy targets improved satisfaction across 18 public service sectors, creation of tens of thousands of specialized jobs, execution of over 220 public-private partnership contracts by 2030, and private sector investment exceeding SR240 billion.
The NPS comprises five core programs and 42 executive initiatives to advance the privatization agenda and achieve Vision 2030 goals. An executive program has also been established to identify and prioritize high-value privatization opportunities, with more than 145 key projects already recognized as attractive investment prospects for the private sector.
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