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Saudi Arabia’s ‘Longest Railway’ to Come Online in December
Saudi Arabia’s “longest railway” running over 1700 miles between capital Riyadh and the northern city of Gurayat will kick-start operations on December 24, 2017. Considered to be one of the world’s longest railway lines, the line will pass through Majmaa, Qassim, Hail, and the Al-Jouf regions of the Kingdom. Six railway stations are in the pipeline along the […]
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‘NTP 2.0’ Keeps Key Policies and Privatization Plans in Place, Report Says
Revision to Saudi Arabia’s National Transformation Plan (NTP), dubbed ‘NTP 2.0’ that was released a year ago will keep key policies of fiscal reforms and a massive privatization program in place, sources familiar with the matter told Reuters. “It is looking increasingly unlikely that some of the targets can be hit by their 2020 deadline, however, partly […]
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Overview of Saudi Arabia’s Drive Toward Privatization
Saudi Arabia’s push toward privatization is a key component of the government’s ambitious Vision 2030 economic and social reform program, and necessary for the Kingdom’s goals of diversifying its economy away from petroleum revenue dependency. The news service Reuters provides a “factbox” list of Saudi Arabia’s sectors that are making progress toward privatization, and encouraging […]
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Saudi Arabia’s Vice Minister of Economy and Planning Mohammed Al Tuwaijri Gives Interview to Bloomberg News
Saudi Arabia’s powerful vice minister of economy and planning Mohammed Al Tuwaijri gave an interview to Bloomberg News on Tuesday and discussed the government’s borrowing plans, infrastructure spending and how the kingdom still intends to balance its budget by 2020. Al Tuwaijri, who is also head of the finance committee at Saudi Arabia’s powerful Council of Economic […]
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Saudi-American Healthcare Forum Set for April 23-26, 2017 in Riyadh
Under the patronage of H.E. Dr. Tawfiq bin Fawzan Al Rabiah, Saudi Arabia’s Minister of Health, organizers of the upcoming Saudi-American Healthcare Forum seek to build on the momentum established by previous events. The event, with the theme of Mapping the 2030 Transformation of the KSA Healthcare Sector: “The Road to Privatization,” will take place at the Ritz Carlton Riyadh […]
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U.S., Saudi Arabian Agribusiness Majors May Partner to Bid on Saudi Grains Milling Privatization
Saudi Arabia’s largest private agriculture company, Almarai, and U.S. agribusiness Archer Daniels Midland Co. are reportedly among companies eying Saudi Grains Organization’s (SAGO) milling operations, the kingdom’s sole supplier, according to an exclusive report by Reuters. The state-owned SAGO handles the Kingdom’s grains purchases, and is one of the world’s largest wheat and barley buyers. The company […]
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Saudi Arabia Approves $24.5b for Water, Agriculture, and Environment Spending to Meet Vision 2030 Goals
Saudi Arabia has approved $24.5b for water, agriculture, and environment spending to allow government leaders to meet 16 goals set as part of its Vision 2030 development plan, Reuters reports. The figure was stated by Abdulrahman Al-Fadhli, Saudi Arabia’s minister for environment, water and agriculture at a speech at an industry conference in Riyadh. Reuters reports that […]
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Saudi Arabia Needs $53b in Water Investment as Sector Looks Toward Privatization
Saudi Arabia will need $53 billion in water sector investment supported by private funds as the Ministry in charge of the sector said it was looking to privatize in order to meet demand, government leaders said. The comments were made by officials from Saudi Arabia’s Ministry of Environment, Water and Agriculture, and Saudi Arabia’s […]
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Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman Receives Praise on Capitol Hill in Washington for Ambitious Economic Reforms
Deputy Crown Prince Mohammed bin Salman visited congressional leaders in Washington on Wednesday to discuss diplomatic and regional issues and talk about Saudi Arabia’s new economic reforms. Prince Mohammed met with Sen. Tom Cotton (R-Arkansas) along with the Senate Armed Services Committee, including Sen. John McCain (R-Arizona) and Sen. Lindsey Graham (R-South Carolina) as well as […]
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Saudi Arabia’s National Transformation Program Released
Saudi Arabia has unveiled its long-awaited National Transformation Program (NTP), a 112-page document outlining Saudi Arabia’s strategic objectives in achieving its previously-announced “Vision 2030” initiative as well as identifying the challenges faced by government bodies in the economic and development sectors. “The National Transformation Program is one of the executive programs supporting Vision 2030. The program […]
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MUST-READS
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Aramco Is Not Alone as Saudi Arabia’s Privatization Push Slows
The Aramco IPO delay reflects complexities the government faces in opening up the public sector, which suggests that progress in privatization strategy will be gradual, Moody’s Investors Service Inc. said in a report earlier this month.
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Expect ‘increasing privatization’ in Saudi Arabia soon: Researcher
Nishit Lakhotia of SICO says Saudi Arabia has raised incomes and taken steps to push privatization to diversify its economy.
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FaceOf: Turki Al-Hokail, CEO of KSA’s National Center for Privatization
Turki Al-Hokail is the CEO and a board member of the NCP, reporting directly to CEDA and leading Vision 2030’s privatization goals and program. He is a board member of the Saudi Aviation Holding Co., a board member of the General Authority of Customs and a member of the International Association for Energy Economics. Prior to that, Al-Hokail served as an assistant deputy minister of Commerce and Investment for Foreign Trade.
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Challenges and risks in the historic Saudi Arabian privatization plan
Raising around $10 billion through state sell-offs, public private partnerships and trade sales is certainly a long way from the $200 billion put up as the total value of the privatization program just last year, but you have to start somewhere.
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Saudi privatization program targets $11 billion non-oil revenues by 2020
It includes the corporatization of Saudi ports and the privatization of the production sector at the Saudi Saline Water Conversion Corp (SWCC) and the Ras Al Khair desalination and power plant, the document showed.
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Saudi’s Riyadh airport privatization plans on hold: sources
Saudi Arabia has put on hold privatization plans for King Khaled International Airport in Riyadh, the kingdom’s second biggest airport, sources familiar with the matter said.
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Opinion: How to kick-start the great Saudi privatization bonanza
State Street is proposing the creation of a “national privatization fund” (NPF) that could be used to implement the state sell-off in a way that would benefit both Saudi citizens, and the government.
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Saudi Arabia to Include Flyadeal in Saudia’s Privatization Plan: Sources
Saudi Arabian Airlines (Saudia) is planning to privatize the main airline and the low-cost carrier Flyadeal in a single transaction, according to company plans seen by Arab News.
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Saudi Wealth Fund to Get Airports in Step Toward Privatization
The kingdom aims to win investment in airports as its seeks to revive an aviation industry that’s been dwarfed by competitors in nearby Dubai and Qatar. It’s also looking at privatizing seaports as depressed crude prices weigh on state spending plans.
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Saudi privatization plans: Golden opportunity awaits foreign partnerships
Of the announced 2017 budget expenditures, the largest non-military and security items were slated for health and social development (SAR 120 billion), education and training (SAR 200 billion), and infrastructure and transportation (SAR 52 billion).
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