Saudi Arabia has reached a pivotal moment in its economic journey as the Council of Economic and Development Affairs (CEDA) has officially ended the Privatization Program. This program, a cornerstone of the nation's economic strategy to diversify and enhance the private sector's role, has achieved its objectives and is now transitioning into a new phase.

CEDA's Recent Meeting Insights

In a recent virtual meeting, CEDA evaluated the privatization efforts that have been in place, noting their success in boosting private sector involvement, optimizing government asset use, and crafting a more appealing legislative climate for investors. These developments have played a crucial role in supporting broader economic diversification and strengthening competitiveness on the global stage.

From Establishment to Implementation

The closure of the Privatization Program signifies a shift from its foundational stage to the implementation of a National Privatization Strategy. This strategy is set to refine targets and create a national framework to identify and capitalize on opportunities in key sectors, ensuring a smooth transition and maximizing the program's impact.

Economic Reports and Future Prospects

During the meeting, CEDA also examined a report from the Ministry of Economy and Planning, which offered insights into global economic trends and their potential effects on Saudi Arabia by 2026. The report highlighted positive signals within the economy, including GDP growth driven by non-oil sectors, a rebound in oil-related activities, increased industrial production, and stable inflation rates. Government actions to balance real estate prices have further supported these trends.

Monitoring Progress and Strategic Decisions

The CEDA Secretariat's Office of Project Management also reviewed recent decisions and recommendations, focusing on tracking the progress of previous initiatives from late 2025. These updates underscore the Council's dedication to ensuring that all assigned tasks are advancing as planned.

Additionally, the Council assessed several economic indicators, including foreign trade indices, GDP and national accounts figures, and consumer and wholesale price data. Based on these evaluations, they made important decisions and recommendations to guide future economic strategies.

In conclusion, the end of the Privatization Program is not just a conclusion but a transformation in Saudi Arabia's approach to economic development, heralding new initiatives that will build on the foundations laid by this successful endeavor.

Source:saudigazette