Green light for crown prince-led Saudi privatization program

Updated 25 April 2018
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Green light for crown prince-led Saudi privatization program

  • The Privatization Program is one of 12 key elements of the Saudi Arabia’s Vision 2030
  • The program is aimed at increasing job opportunities for Saudi nationals

RIYADH: Saudi Arabia’s Council of Economic and Development Affairs on Tuesday approved the Privatization Program that is one of 12 key elements of the Kingdom’s Vision 2030. 

The program is aimed at increasing job opportunities for Saudi nationals, attracting the latest technologies and innovations, and supporting economic development.

It encourages both local and foreign investment in order to enhance the role of the private sector, with government entities adopting a regulatory and supervisory role. The aim is to increase the private sector’s contribution to GDP from 40 percent to 65 percent by 2030. 

The program will aim to reach its objectives through encouraging the private sector to invest in establishing new schools, universities and health centers, while the government pursues its organizational and supervisory role in health and education.

The privatization program aims to benefit from previous success stories, with the private sector’s collaboration in the development of infrastructure, and its involvement on a large scale in sectors such as energy, water, transport, telecommunications, petrochemicals and finance.

The program sets out a series of objectives in three areas: Developing a general legal framework for policies related to privatization; establishing organizational foundations and dedicated institutions to execute the policies; and setting a timescale for their delivery. 

The Council of Economic and Development Affairs is headed by Crown Prince Mohammed bin Salman.


Around 3 million arrested for residency, labor violations in KSA

405,806 were transferred to their respective diplomatic missions to obtain travel documents. (SPA)
Updated 21 April 2019
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Around 3 million arrested for residency, labor violations in KSA

  • 1,227 Saudi citizens were arrested for harboring the violators against local laws, of which 50 are being detained, pending the completion of procedures

RIYADH: Nearly 3 million violators of residency, work and border security systems have been arrested in a year-long roundup, according to an official report.
Since the campaign began in November 2017, there have been 2,987,317 offenders, including 2,328,031 for violating residency regulations, 458,591 for labor violations and 200,695 for border violations, the Saudi Press Agency (SPA) reported.
The report said that 50,388 people were arrested while trying to cross the border into the Kingdom, 50 percent of whom were Yemeni citizens, 47 percent were Ethiopians and 3 percent were of other nationalities.
2,135 people were arrested for trying to cross the border into neighboring countries and 3,697 were arrested for involvement in transporting and harboring those violators. 1,227 Saudi citizens were arrested for harboring the violators against local laws, of which 50 are being detained, pending the completion of procedures.
Immediate penalties were imposed against 443,210 offenders; 405,806 were transferred to their respective diplomatic missions to obtain travel documents; 507,042 were transferred to complete their travel reservations; and 750,504 were deported.