ECONOMY

Know the aims of Saudi Arabia’s Vision 2030 privatization program

The aims of privatizing services is decreasing their costs and improving their quality. (Shutterstock)

Achieving Saudi Arabia’s Vision 2030 reform plans is based on the success of the 10 programs which the Saudi Council of Economic Affairs and Development recently identified as they aim to meet the demands of sustainable growth.

Privatization is one of the major programs which the government will depend on to fulfill its goals. Privatization will work on enhancing the role of the private sector in providing municipal, healthcare, educational and transportation services.

The aims of privatizing services is decreasing their costs and improving their quality.

Privatization also contributes to attracting non-governmental investments, particularly direct foreign investments, and supporting the balance of payments in addition to liberating state-owned assets. This will provide the government with annual revenues.

The success and progress of this program will be measured through several, indications such as measuring the percentage of private sector investments from the original value of assets made available for privatizing. This is in addition to measuring the percentage of reduced governmental expenditure and measuring the rate of citizens’ satisfaction towards the privatized services.

Financial gains and improving the quality of services are not the only aims of privatization as the latter will also restore the government’s focus on its legislative and organizational roles which harmonize with the orientations of Vision 2030.



 

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Last Update: Monday, 1 May 2017 KSA 10:39 - GMT 07:39
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