Minister of Economy and Planning Mohammed Al-Tuwaijri confirmed that regulations governing public-private partnerships are set to be issued soon, noting that privatization will be open to both the domestic and foreign private sectors. He indicated that a number of sectors—including desalination plants, flour mills, airports, and transportation, and that there are plans for the healthcare sector that may be partial at first. Al-Tuwaijri explained that privatization would help boost the economy.

This came during his meeting last Sunday with the chairman and board members of the Riyadh Chamber of Commerce, attended by a number of business leaders at the Chamber’s headquarters, as part of the roundtable meetings program that the Chamber organizes periodically with Their Excellencies and ministers.

At the start of the meeting, the Minister of Economy and Planning emphasized that the private sector is actively engaged in all discussions related to the Vision, noting that the Vision’s plans are proceeding according to specific benchmarks and that some of the challenges can be summarized under three main areas: communication; major projects and the capacity to implement them; and the cost of these major projects and their financing channels.

Regarding Saudization programs, Al-Tuwaijri noted that Saudization as a goal is uncontested, but that the issue of full implementation at a rate of 100 % is not feasible. He emphasized the importance of correcting the labor market in phases and evaluating each phase, He highlighted the importance of addressing front companies, as the shadow economy accounts for approximately 20 %, a situation that requires correction, and noted that the approach is moving toward strategically addressing front-company practices due to their economic, social, and security implications.