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Saudi Arabia plans to privatize 146 government projects

Riyadh city

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The Kingdom plans to privatize 146 government projects across various sectors in the coming period, with the aim of easing the financial burden on the public sector. This was outlined in a report by «Arabian Business,» which noted that privatization will take place through various methods, including public-private partnerships or build-finance-operate models, with ownership of the project ultimately reverting to the state, and other models. The report noted that the projects will cover the health, education, transportation, and housing sectors, as well as certain social aspects and others.

The report highlighted a number of challenges facing the implementation of the Vision, foremost among them the need to improve coordination among government sectors and ensure the availability of qualified personnel capable of implementing the plan, It described Vision 2030 as the largest transformation process the Kingdom is currently undergoing, noting that achieving just 50% of its goals could significantly change the face of life compared to the current reality, It is well known that the process of privatizing certain sectors began in 2003, but the project was not seriously pursued, while reports indicate that the majority of government projects have been implemented at an additional cost ranging from 15 to 25 % in recent years.