Saudi privatization workshop attracts public, private sector officials in Riyadh

RIYADH: More than 100 senior officials from the public and private sectors participated in the two-day Saudi Privatization Summit on Wednesday.
Privatization of key sectors such as health care, education, postal services, airports, cultural tourism and municipality services with significant private sector involvement through Public-Private Partnerships (PPP) are the prime focus of the summit.
Nispana Innovative Platforms hosted the workshop and brought together national and international experts and stakeholders to discuss the opportunities available in privatization and industrialization.
Jaisimha Das, head of marketing and business development told Arab News that his company wants to support the new areas in the government’s privatization program to reach the goals of Saudi Vision 2030.
He said the ministries of health, telecommunications and information technology, education, and the Saudi Electricity Co. (SEC) have already started the program.
Saudi Arabia embarked on Vision 2030 last year to wean itself from oil revenues and offer a share-sale in the world’s biggest oil company.
The Kingdom is welcoming international investments and privatizing state-owned companies. Envisioning increasing non-oil revenue to $120 billion per year by 2020 and to $266 billion by 2030, Saudi Arabia’s economic diversification and transformation is encouraging a progressive political environment, more liberal immigration policy and a robust economy.