NCP eyes major local, global companies to invest in Saudi privatization projects

Hani Al-Sayegh, director general of Strategic Communication & Marketing at NCP

The National Center for Privatization & PPP (NCP) is seeking to attract major local and international companies to invest in privatization projects and expand their participation in the local economy, Al Eqtisadiah newspaper reported, citing Hani Al-Sayegh, director general of Strategic Communication & Marketing.

The center held a number of extensive meetings with local investors in Riyadh, Jeddah and the Eastern Region to present privatization projects and highlight the investment opportunities in the targeted sectors, in addition to the advantages and components for local investors.

Al-Sayegh said that creating a legal base for setting up a register for privatization projects constituted the central comprehensive database of data and documents, development of provisions that will allow the registry to be activated and achieve its targets, preservation of documents and information on privatization projects, organization of the disclosure of registry information, and protection of confidential information associated with privatization projects.

NCP supports all 16 sectors targeted by privatization, namely environment, water and agriculture; transport; energy; industry and mineral resources; labor and social development; housing; education; health; municipalities; Hajj and Umrah; telecommunications and information technology; media; sports; interior; and finance.

Al-Sayegh also pointed out that the objectives of the privatization law will enable the implementation, organization, supervision, follow-up, monitoring and development of privatization projects; upgrade the efficiency of public infrastructure and services; improve the level of management; and stimulate the private sector to invest and actively participate in the national economy, as well as increase its share of GDP.