Saudi Arabia has formally concluded its privatization program after successfully delivering its initiatives in line with the approved plan, according to Mohammed bin Abdullah Al-Jadaan, Minister of Finance and Chairman of the National Center for Privatization.

Al-Jadaan stated that the program’s completion followed Council of Economic and Development Affairs approval, marking a key milestone in the Kingdom’s economic reform agenda under Vision 2030.

Since its launch, the privatization program has achieved several major outcomes, most notably the establishment of the National Center for Privatization. The center has developed more than 200 approved projects with total investments estimated at SR800 billion ($213.4 billion). Nearly 90 contracts have been signed to date, including ownership transfer agreements and public-private partnership (PPP) deals across multiple sectors.

The program has also contributed to strengthening private-sector participation, improving the efficiency of government asset operations, and establishing a legislative and regulatory framework to attract investment, support economic diversification, and enhance the Kingdom’s competitiveness.

Alongside the program’s conclusion, Al-Jadaan announced the launch of the National Privatization Strategy, which was approved by the Council of Ministers on November 25. The strategy aims to improve infrastructure quality and efficiency, raise public service standards, expand the private sector’s role in sustainable economic development, and enable the government to focus on its legislative, supervisory, and regulatory responsibilities while reinforcing financial sustainability.

“Saudi Arabia seeks to establish a high-quality, efficient future infrastructure capable of delivering world-class public services to citizens, residents, and visitors, while reinforcing the Kingdom’s position as a global reference in public-private partnerships,” Al-Jadaan said.

The strategy targets higher satisfaction levels across public services in 18 priority sectors, the creation of tens of thousands of specialized jobs, more than 220 PPP contracts by 2030, and an increase in private sector capital investment to over $63.98 billion by the end of the decade.

To achieve these goals, the National Privatization Strategy includes five core programs and 42 executive initiatives aligned with Vision 2030 targets. It also features a dedicated executive track focused on identifying and prioritizing privatization opportunities, with more than 145 high-priority opportunities already identified as attractive to private-sector investors.