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Saudi Arabia to privatize 16 gov't organizations

Xinhua, February 1, 2017 Adjust font size:

Saudi Arabia will privatize 16 government authorities, as part of its "Saudi 2030" economic vision, reported the local Al Hayat newspaper on Wednesday.

The government authorities selected for privatization include health, education and airport organisations.

The National Privatization Center's chief executive officer, Turki Al Haqeel, said the 16 organizations were chosen from among 147 government organizations and 85 state projects.

Al Haqeel said that airports, sports clubs and flour mills are ready for operation by private companies.

The privatization plan aims to cut government expenditure by reducing operational expenses of various organisations as well as promoting the private sector's important role as a crucial contributor to the kingdom's gross domestic product.

Saudi Arabia is taking steps to move beyond the oil era, hoping privatization plans will attract more local and foreign investments. Endit