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Saudi Arabia announces 160 privatization deals next year

Saudi Finance Minister Muhammad Al-Jadaan announced on Thursday, that the Kingdom is working on 160 privatization projects and plans to announce more next year.

According to Al Arabiya.net, the minister said at the financial stability symposium that plans to privatize institutions in the education and logistics sectors are in the works.

Al-Jadaan stated that the government is continuing to implement policies to combat the Corona pandemic, emphasizing that these efforts have put the Kingdom on the road to recovery and stability.

According to the minister, the government has begun a series of financial reforms aiming at a complete and total transformation of the economy to achieve a big developmental shift.

Al-Jadaan stated that the government is working on a financial sustainability program to diversify revenues and decrease the influence of external factors such as oil price swings by implementing financial laws that ensure financial sustainability.

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