Saudi health ministry eyes privatization of government hospitals

Saudi Arabia’s health ministry is planning to privatize all state-run hospitals by establishing new firms to own and operate the facilities, Al-Hayat newspaper reported.

The move comes as part of the kingdom’s plans to improve the quality of medical services and rationalize costs.

The Saudi Shura Council’s health committee has also backed council member Fahad bin Juma’s recommendation to provide medical insurance for all nationals ahead of the privatization, it was reported.

Saudi Arabia is looking to privatize several state-run entities and economic sector as part of broader fiscal reforms under its Vision 2030 initiative.

State-owned oil giant Saudi Aramco will be partially privatized when a 5 percent stake is floated next year, in what is expected to the world’s largest initial public offering (IPO).

The kingdom also expects to privatize 27 Saudi airports by mid-2018, it was reported last month.