We have a strong relationship with Korean investors under the scope of privatization projects in the Kingdom

Wednesday, March 8, 2023, H.E. Mr. Mohammed Al-Jadaan, the Minister of Finance and Chairman of the Board of The National Center for Privatization & PPP (NCP), participated in roundtable discussions with a coalition of Korean companies in the Korean capital Seoul, in the presence of H.E. Won Hee-ryong, Minister of Land, Infrastructure and Transport of the Republic of Korea.

Mr. Al-Jadaan stressed during this event the depth of the relationship between the Korean investors and the Saudi privatization and PPP ecosystem in the Kingdom. He pointed out that the sectoral breakdown of the Saudi PPP pipeline overlaps nicely with Korea's PPP program, as both provide numerous investment opportunities that match companies' experience and capabilities. During his participation, Al-Jadaan said: "The Kingdom of Saudi Arabia has adopted a modern framework for privatization and partnership projects between the public and private sectors that is flexible and based on international best practices."

Further, Minister Al-Jadaan noted that, although the government started the PPP journey quite recently, it has already traveled far. The Kingdom has the largest, broadest, and most successful Privatization and PPP program in the Middle East. In addition, and over the last five years, the Kingdom has privatized 30 projects. Minister Al-Jadaan noted that the pace of the privatization program is accelerating as the current pipeline includes around 200 projects in 17 sectors, involving over $50 billion in investment; and another 300 projects are being evaluated.

Minister Al-Jadaan indicated that the privatization and PPP projects provide significant opportunities for Korean investors and suppliers. He added that the Kingdom is keen to see more Korean companies bringing their expertise and resources to the Saudi Privatization and PPP program and building stronger ties between the two countries​

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