Saudi Arabia to privatize 20 companies in 2019: Crown Prince Mohammed bin Salman

20 Saudi state-owned companies in across sectors are slated to be privatized in 2019.

In yet another step aimed at diversifying Saudi Arabia’s economy, Crown Prince Mohammed bin Salman disclosed, the Kingdom will privatize more than 20 companies next year.

“In 2019, we will have more than 20 services that will be privatized, most of them in water, agriculture, energy and some of it in sports”, said the Crown Prince in an interview to Bloomberg.

Earlier this year in April, the Saudi government had said it aims to generate $9 billion to $11 billion (35 billion to 40 billion riyals) in non-oil revenues from its privatization program by 2020 which will also create up to 12,000 jobs.

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Categories: Creativity, Economy & Finance, Entrepreneurship, HR & Organization, Strategy, Sustainability

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