National Center for Privatization CEO: Privatization to Contribute in Developing Saudi Economy

A general view of Riyadh, Saudi Arabia. (Reuters)
A general view of Riyadh, Saudi Arabia. (Reuters)
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National Center for Privatization CEO: Privatization to Contribute in Developing Saudi Economy

A general view of Riyadh, Saudi Arabia. (Reuters)
A general view of Riyadh, Saudi Arabia. (Reuters)

Turki Abdulaziz al-Hokail, CEO of the National Center For Privatization & PPP (NCP), stated that privatization processes would contribute in developing the national economy and increasing the kingdom’s competency on the international level.

“Privatization would raise internal efficiency and productivity, enabling the kingdom to employ its human and material resources. This would boost the global competitive characteristics of Saudi Arabia,” said Hokail.

During his interview with Asharq Al-Awsat newspaper, he stated that the NCP is dedicated to carrying out its mission and creating an environment that urges expansion in the private sector via sustainable contribution in the national economy.

He noted that the center is “an effective member within an integral system that aims at completing privatization processes and achieving Saudi Vision 2030.”

Responding to a question on how the NCP contributes in achieving Saudi Vision 2030, Hokail replied that the vision is based on comprehensive efforts exerted by the state to update the Saudi economy via reviving the private sector, diversifying the sustainable economy, privatization, reforming labor market and capital markets, along with other basic components.

“These processes would contribute in enhancing the efficiency and performance levels of bodies that will be privatized. This would positively affect services that go in line with the needs of citizens and residents, increase job opportunities, diversify services and products and create a competitive environment. All these represent the basics of Saudi Vision 2030,” he explained.

Hokail stressed that the NCP works in partnership with all related bodies on implementing a package of privatization initiatives.

Speaking on the steps taken in the privatization process, he explained that a strategy is first devised for the sector to be privatized. Organizational, technical and institutional readiness are then ensured before deals are signed though holding and managing exhibitions and introductory events and programs with investors.

High-level of governance is being applied by the center through a long list of procedures and obligations that were determined to ensure the implementation of governance, he added.



Saudi Inflation Rate Remains Stable at 2.3% in June 2025

The Wholesale Price Index (WPI) recorded a relative stability at 2.1% in June 2025
The Wholesale Price Index (WPI) recorded a relative stability at 2.1% in June 2025
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Saudi Inflation Rate Remains Stable at 2.3% in June 2025

The Wholesale Price Index (WPI) recorded a relative stability at 2.1% in June 2025
The Wholesale Price Index (WPI) recorded a relative stability at 2.1% in June 2025

The General Authority for Statistics (GASTAT) reported that the annual inflation rate in Saudi Arabia remained stable at 2.3% in June 2025 compared to the same month of the previous year.

The Consumer Price Index (CPI) also remained steady at 0.2% in June 2025 compared to May 2025, on a monthly basis.

Similarly, the Wholesale Price Index (WPI) recorded a relative stability at 2.1% in June 2025 compared to the same month last year. However, the WPI decreased by 0.1% in June 2025 compared to May 2025.

According to GASTAT, CPI reflects price changes paid by consumers for a fixed basket of 490 goods and services. This basket was selected based on the results of the 2018 Household Income and Expenditure Survey. Prices are collected through field visits to points of sale, and the CPI statistics are published monthly.