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FinancialNews
18-03-21
Saudi Cabinet to privatize 16 key industries
(MENAFN)The Saudi Cabinet announced plans to privatize 16 key industries to increase the private sector’s involvement in the growth of the Kingdom’s economy.
The plan was unveiled by Minister of Finance Mohammed Al-Jadaan, who also managed the privatization program committee and board of the National Center for Privatization (NCP).
He further stated that “The Kingdom’s Vision 2030 is concerned with enhancing investment in the national economy, creating attractive investment opportunities for the private sector, and increasing its contribution to the domestic product to enhance the sustainability of the Kingdom’s economy.”
The PSP law was formed to raise private sector partnership in infrastructure projects and public services by supporting public-private partnerships (PPPs) and the privatization of public sector assets.
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