Today: 23 October 2025
24 May 2021
1 min read

Saudi aims to raise $55bn by 2025 through privatisation

Al-Jadaan expects to raise $38 billion through asset sales and $16.5 billion through public-private partnerships…reports Asian Lite News

Saudi Finance Minister Mohammed Al-Jadaan said that the Kingdom is seeking to raise about $55 billion over the next four years through its privatisation program as it looks to reduce its budget deficit, it was reported.

Al-Jadaan expects to raise $38 billion through asset sales and $16.5 billion through public-private partnerships, he told the Financial Times, Al Arabiya reported.

The privatisation law will be enacted in Saudi Arabia in July of this year.

According to Arab News report, the Saudi government has identified 160 projects in 16 sectors, including asset sales and public-private partnerships through 2025.

Asset sales shall include government-owned hotels, television broadcasting towers, and cooling and water desalination plants.

The plan does not include the Public Investment Fund (PIF) entities or the sale of other assets of Saudi Aramco.

Last year, Saudi Arabia sold all its flour mills to a group of local and international investors for around $1.5 billion, with HSBC advising on the deals.

In mid-March the Council of Ministers endorsed the privatisation bylaw, which has been described by Minister Mohammed Al-Jadaan as pivotal in creating investment opportunities for the private sector and boost its contribution to the GDP to enhance the sustainability of the Kingdom of Saudi Arabia’s economy.

Saudi Aramco’

The new bylaw seeks to bolster the public-private partnership, transfer ownership of government assets, liberate state-owned assets for the private sector, allocate specific government services, and expand private sector participation in infrastructure and service projects.

The privatisation bylaw aims at creating a favourable business climate essential for improving the quality of services offered to citizens and residents as well as ensuring the necessary flexibility for the privatization projects and the public-private partnerships.

Saudi Arabia reported 1,067 new coronavirus cases during the past 24 hours, according to the bulletin of Saudi Ministry of Health.

The ministry added that the total number of confirmed cases now stand at 440,914 and the total recoveries at 424,690. Twelve new deaths were also reported, bringing the total death tally to 8,975.

ALSO READ: Stranded Kerala nurses in UAE get job offers
Previous Story

19% surge in new license issuance in Dubai

Next Story

Saudi, UK FMs discuss ties in Riyadh

Latest from Arab News

India, Oman Cement Defence Partnership

The officials of two nations also held talks on capability development, professional military education and new avenues for partnership…reports Asian Lite News The Indian Army and Royal Army of Oman held the

World Court: Israel Must Uphold Rights in Palestine

Israel strongly rejected the opinion, calling it “politicisation of International Law, which seeks to produce political outcomes….reports Asian Lite News The World Court has ruled that Israel must respect international human rights

Clearing A Mess in Gaza

Municipalities across Gaza have mobilized their limited resources to clear streets and set up temporary shelters for thousands of displaced families…reports Asian Lite News The conflict has left behind an estimated 55

Gaza, Malaysia to help Gaza Rebuild

Egyptian, Malaysian leaders discuss Gaza aid, reconstruction amid ceasefire…reports Asian Lite News Egyptian President Abdel Fattah al-Sisi and Malaysian Prime Minister Anwar Ibrahim spoke by phone about efforts to support Gaza’s reconstruction,

Netanyahu to Run Again in 2026

When asked whether he expects to win, Netanyahu said, “Yes.”…reports Asian Lite News Israeli Prime Minister Benjamin Netanyahu has confirmed his bid for re-election in the 2026 parliamentary polls. He made the
Go toTop