Page 32 - Trends

Cover Story

Saudi Arabia;
Kingdom of vision

Under Vision 2030 and National Transformation Program,
Riyadh has begun the process to privatize utilities

It is offering stakes in state-run organizations

$200 billion
Idea is to create new opportunities for the private sector
and raise $200 billion for economic and social development

16 entities
Authorities have identified 16 entities as top
priorities for a sell-off

100 opportunities
They have zeroed in on over 100
opportunities for pursuing PPPs

“The role of the private sector has been on a rapid upward trajectory, primarily Under the Vision 2030 and National
Transformation Program, Riyadh has be-
targeting consumer-driven sectors such as retail, logistics and industrials.” gun the process of privatizing utilities and
offer stakes in state-run organizations to
transportation, power and water, manufac- Expanding role create new opportunities for the private
turing and energy where projects worth Among all of the GCC countries, Sau- sector and raise $200 billion for econom-
more than $1 trillion are in the pipeline,” di Arabia has ambitious plans to impart ic and social development. Authorities
says Anthony Hobeika, CEO, MENA Re- more responsibilities to the private sector have conducted detailed valuations and
search Partners. for its economic revival. LGHQWLÀHG HQWLWLHV DV WRS SULRULWLHV IRU D
sell-off and more than 100 opportunities
for pursuing public-private partnerships
16 2.3 PERCENT 2.7 PERCENT (PPPs). Its plans for privatization also in-
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Local authorities have con- Most rating agencies and Oxford Economics report says Aramco, the world’s biggest producer of
ducted detailed valuations and global organizations forecast GCC economies are set to oil, later this year, and handing over all
identified this number the regional GDP growth to enjoy their fastest expansion in airports to private players.
of entities as top priorities recover to this percentage on three years with this Oman has almost completed the trans-
for a sell-off. an average in 2018-19. percentage of growth. fer of its waste management infrastruc-
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32 TRENDS | February 2018