Saudi Arabia Looks To Raise $10bn In Privatization Scheme

Saudi Arabia hopes to raise about $10bn by 2020 through the sale of state assets as the government attempts to boost the private sector’s role in the oil-dependent economy. The privatization program is looking to make $9.3bn-$10.7bn through the sale of sports clubs, flour mills and a water desalination plant, Turki Al Hokail, chief executive of the National Centre for Privatization, said on Wednesday. The “bulk” of funds to be raised will come from bringing the Saline Water Conversion Corporation’s giant Ras Al-Khair plant under private ownership. Privatization lies at the heart of Crown Prince Mohammed bin Salman’s economic reforms that seek to break the kingdom’s reliance on oil revenue while easing the conservative kingdom’s social strictures. 
 

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They have announced $200 bn in asset sales over several years... step by step

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Focusing only on oil is not good enough for the long run. MBS knows that and with few last investments (solar) he's making a step forward to independent from oil

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Obviously Saudi Arabia will not focus only on oil in the future. That's the main reason why Prince wants to start ASAP with privatization... More privatization, more money

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"Kingdom's vision 2030": the sectors that Saudi Arabia in planning to privatize :
- Transportation
- Education
- Healthcare
- Housing
- Municipalities
- Telecommunications
- Hajj and Umra

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11 minutes ago, damirUSBiH said:

... More privatization, more money

 

More privatization, more corruption

image.png.25140235fe2fdbb67492964dd15b85a0.png

 

  • Upvote 1

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2017: Saudi Arabia believes it can raise $200 billion in privatizations in the next several years!
2018: Saudi Arabia aims to raise $9 billion to $11 billion from its privatization program by 2020.

So, from 2020 to 2030 SA plans to raise rest of $190 billion.... Year by year it's mean = $19 billion....

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that, plus what they have seized (and are still seizing) from their business elite should do to trick to fund Vision 2030 ... since the elite are all being forced to invest in MBS' projects even if their assets aren't being seized. 

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13 hours ago, ThunderBlade said:

- Hajj and Umra

How do you privatize this? Call it tourism?

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