Saudi Press

Saudi Arabia and the world
Wednesday, Jun 04, 2025

Saudi privatization program records investments over $50bn

Saudi privatization program records investments over $50bn

The pace of Saudi Arabia’s privatization program is accelerating with investments now exceeding $50 billion, Mohammed Al-Jadaan, the minister of finance and chairman of the National Center for Privatization Projects, has revealed.
During his participation in the roundtable discussions with consortia of South Korean firms in Seoul, Al-Jadaan pointed out that the investments are being seen in 200 projects across 17 sectors.

The program’s pipeline also includes another 300 projects currently under evaluation.

Even though the government started the journey of privatization and partnership between the public and private sectors recently, it has achieved significant goals during the short period of time, the minister noted.

This comes as the Kingdom’s privatization program — which is the largest and widest in the Middle East — has completed the privatization of 30 projects during the past five years, he exposed.

Al-Jadaan went on to demonstrate the depth of the relationship between Korean investors and the system of privatization and partnership projects between the public and private sectors in Saudi Arabia.

“The Kingdom has adopted a modern framework for privatization and partnership projects between the public and private sectors that is flexible and based on international best practices,” the finance minister explained.

The current projects across different sectors in the Kingdom and the privatization and partnership program in South Korea share some common areas in terms of providing investment opportunities that are proportionate with the firms’ expertise and capabilities.

Saudi Arabia is seeking the presence of more Korean companies in the Kingdom in order to benefit from their respective expertise and resources in the privatization and partnership program, as well as to consolidate strong and close relations between the two countries, he stressed.

In November, Saudi Arabia and South Korea agreed to increase cooperation in the field of renewable energy, clean hydrogen, and electricity, according to the Saudi Press Agency.

This came during a virtual meeting held between Saudi Minister of Energy Prince Abdulaziz bin Salman and South Korean Minister of Trade, Industry and Energy Lee Chang-yang on Nov. 2.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Global News Roundup: From Ukraine's strategic military strikes and Russia's demands and Tensions Escalate in Ukraine, to serious legal issues faced by Britons in Bali and Trump's media criticism, the latest developments highlight a turbulent landscape
U.S. Reduces Military Presence in Syria
Trump Demands Iran End All Uranium Enrichment in Nuclear Talks
Iran Warns Europe Against Politicizing UN Nuclear Report
Paris Saint-Germain's Greatest Triumph Is Football’s Lowest Point
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
European and Arab Ministers Convene in Madrid to Address Gaza Conflict
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
UAE Offers Free ChatGPT Plus Subscriptions to Citizens
Lebanon Initiates Plan to Disarm Palestinian Factions
Iran and U.S. Make Limited Progress in Nuclear Talks
The Daily Debate: The Fall of the Dollar — Strategic Reset or Economic Self-Destruction?
Trump Administration's Tariff Policies and Dollar Strategy Spark Global Economic Debate
OpenAI Acquires Jony Ive’s Startup for $6.5 Billion to Build a Revolutionary “Third Core Device”
Turkey Weighs Citizens in Public as Erdoğan Launches National Slimming Campaign
Saudi-Spanish Business Forum Commences in Riyadh
Saudi Arabia and Spain Sign MoU to Boost SME Sectors
UK Suspends Trade Talks with Israel Amid Gaza Offensive
Iran and U.S. Set for Fifth Round of Nuclear Talks Amid Rising Tensions
Russia Expands Military Presence Near Finland Amid Rising Tensions
Indian Scholar Arrested in Crackdown Over Pakistan Conflict Commentary
Israel Eases Gaza Blockade Amid Internal Dispute Over Military Strategy
President Biden’s announcement of advanced prostate cancer sparked public sympathy—but behind closed doors, Democrats are in panic
A Chinese company made solar tiles that look way nicer than regular panels!
Indian jet shootdown: the all-robot legion behind China’s PL-15E missiles
The Chinese Dragon: The True Winner in the India-Pakistan Clash
Australia's Venomous Creatures Contribute to Life-Saving Antivenom Programme
The Spanish Were Right: Long Working Hours Harm Brain Function
Did Former FBI Director Call for Violence Against Trump? Instagram Post Sparks Uproar
US and UAE Partner to Develop Massive AI Data Center Complex
Apple's $95 Million Siri Settlement: Eligible Users Have Until July 2 to File Claims
US and UAE Reach Preliminary Agreement on Nvidia AI Chip Imports
President Trump and Elon Musk Welcomed by Emir of Qatar Sheikh Tamim with Cybertruck Convoy
Strong Warning Issued: Do Not Use General Chatbots for Medical, Legal, or Educational Guidance
Saudi Arabia Emerges as Global Tech Magnet with U.S. Backing and Trump’s Visit
This was President's departure from Saudi Arabia. The Crown Prince personally escorted him back to the airport.
NVIDIA and Saudi Arabia Launch Strategic Partnership to Establish AI Centers
Trump Meets Syrian President Ahmad al-Shara in Historic Encounter
Trump takes a blow torch to the neocons and interventionists while speaking to the Saudis
US and Saudi Arabia Sign Landmark Agreements Across Multiple Sectors
×