​Riyadh, April 2018:  In a move to increase various sectors’ contribution to the national economy, the National Center for Privatization & PPP (NCP) is working to realize the Privatization Program, one of the 12 programs of Vision 2030. It is ambitious national vision that includes transforming the economy to a post-oil phase and increasing the economy’s vitality and growth.

On that note, Turki A. Al Hokail, CEO and Board Member of NCP, confirmed that the center is working on achieving vital and strategic goals, which would help increase the economy’s growth and the effectiveness of many sectors and services.

Al Hokail clarifies that the program launched on the 24th of April, 2018 will clearly contribute the economy. Furthermore, in accordance to the Custodian of the Two Holy Mosques and His Highness the Crown Prince’s directives, NCP will work on achieving the Privatization Program, which is one of the most important programs of Vision 2030. NCP has also started forming many legislative frameworks, regulations, and rules, which will contribute to the Privatization Program’s success. NCP is working to activate the privatization process in the targeted sectors. Privatization will help increase the quality of services provided, GDP contribution rate, and job opportunities.

The CEO pointed out that the Privatization Program benefits the Saudi Citizens like expanding the quality and reach of services. The program also reinforces fairness of private sector’s partnership by opening the investments to both national and international investors. This will also help the government focus on monitoring and supervising, which would help develop higher performance standards and better efficiency.

Al Hokail clarified that there is great work ahead as the country is facing a new age of work and vitality. The center is proud of national talents it has working within it for NCP has experts in legal, finance, advisory, strategy, project management, risk, communication, and marketing, human resources, and in Privatization and Public Private Partnerships.

The National Center for Privatization & PPP was established by the Council of Ministers’ Resolution No. 355 of 7/6/1438H, approving the organization of the National Center for Privatization and its connection to the Council of Economic Affairs and Development (CEDA). NCP, as the name suggests, is the center of expertise and knowledge in the field of privatization and public private partnership. It is the first center of its kind in Saudi. NCP hopes to increase awareness surrounding the concepts of private sector participation and the optimal methods of privatization to ensure the delivery of government services and projects with efficiency and in high quality.