Saudi privatisation - the story so far | ZAWYA MENA Edition:
In April 2018, the Saudi Arabian government announced the launch of 14 PPP initiatives. The headline projects were the corporatisation of the Saudi ports sector, the privatisation of part of the Saline Water Company (SWCC), and the sale of some of SWCC’s assets.
The initiative extended to the Saudi football league, the postal service and the flour mills sector. In addition, the corporatisation of the King Faisal Specialist Hospital was highlighted. As well as increasing employment prospects, the key stated objective was the raising of some $10 billion for the State treasury. So what have we seen since April 2018?
We are seeing the early signs of the development of a comprehensive regulatory regime. At the top of the pyramid is the Council of Ministers, chaired by King Salman bin Abdulaziz Al Saud. The Council of Economic Development Affairs (CEDA) ranks next, chaired by the Crown Prince, Mohammad bin Salman. The Steering Management Committee (SMC) sits within CEDA and is tasked with achieving the policy objectives of Vision 2030. The SMC directs 12 separate Vision Realisation Programmes (VRPs). Next are the VRP Committees for each VRP, followed by each VRP Office, which reports into the relevant VRP Committee.
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