Saudi Arabia Seeks to Accelerate Health Sector Privatization

Saudi Arabia is pushing to accelerate the privatization of the health sector. (Asharq Al-Awsat)
Saudi Arabia is pushing to accelerate the privatization of the health sector. (Asharq Al-Awsat)
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Saudi Arabia Seeks to Accelerate Health Sector Privatization

Saudi Arabia is pushing to accelerate the privatization of the health sector. (Asharq Al-Awsat)
Saudi Arabia is pushing to accelerate the privatization of the health sector. (Asharq Al-Awsat)

Saudi Arabia is pushing to accelerate the privatization of the health sector, as an integral part of the programs of Vision 2030.

In this context, Custodian of the Two Holy Mosques King Salman bin Abdulaziz issued a Royal Decree on Tuesday, transforming the King Faisal Specialist Hospital and Research Center into an independent nonprofit institution.

The move is part of a comprehensive transformation program that aims to develop the facility to become one of the best health centers in the world.

“The transformation aims to develop the hospital’s services, capacity and research production in a sustainable manner,” according to Fahd Al-Rasheed, Chairman of the Board of Directors of the Specialized Hospital.

“Transforming the hospital and research center into an independent, nonprofit institution is a major enabler for the transformation journey that the hospital is going through, in line with the objectives of Vision 2030…”

For his part, Dr. Majid Al-Fayyadh, Chief Executive Officer of the King Faisal Specialist Hospital and Research Center noted that huge efforts would be undertaken to improve the institution’s efficiency and productivity.

He added that during the transformation journey, all hospital services would remain available, and the hospital and center staff would lead the transformation into a nonprofit entity.

The King Faisal Specialist Hospital and Research Center, which started its operation in 1975, is one of the most important Saudi institutions that provide the highest level of specialized health care in an integrated educational and research environment.

The hospital is the first center outside the United States accredited by the Society of Pediatric Oncology, which is one of the most prominent medical institutions in this field at the global level.

The hospital achieved 60 percent of the total liver transplants performed in Saudi Arabia. In each of its branches located in Riyadh, Jeddah, and Madinah, the hospital has more than 2,500 beds. In research participation, the Research Center has published more than 500 research papers in many international medical journals.



AlUla Conference Amplifies Emerging Economies’ Global Voice

Saudi Finance Minister Mohammed Al-Jadaan (AlUla Conference for Emerging Market Economies)
Saudi Finance Minister Mohammed Al-Jadaan (AlUla Conference for Emerging Market Economies)
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AlUla Conference Amplifies Emerging Economies’ Global Voice

Saudi Finance Minister Mohammed Al-Jadaan (AlUla Conference for Emerging Market Economies)
Saudi Finance Minister Mohammed Al-Jadaan (AlUla Conference for Emerging Market Economies)

The “AlUla Conference for Emerging Market Economies” was held at a crucial time, as the world and the region face significant economic, technological, and geopolitical shifts.

From tariffs that will impact international trade to the resurgence of inflation concerns and the resulting delay in expected interest rate cuts, the strengthening dollar and its effects on emerging markets, to the growing geopolitical conflicts—these and other factors undoubtedly have far-reaching consequences for emerging economies.

The conference, organized by the International Monetary Fund (IMF) and the Saudi Ministry of Finance, “marks an important step towards creating a platform that amplifies the voices of emerging economies on the global stage, allowing them to express their views and needs," said Finance Minister Mohammed Al-Jadaan at the conclusion of the two-day event.

Sources told Asharq Al-Awsat that the conference is expected to have a significant impact on shaping future economic policies in emerging economies.

This was evident through in-depth discussions among finance ministers, central bank governors, policymakers, and leaders from both the public and private sectors in emerging economies, as well as international institutions.

The talks covered a range of topics, from economic growth and financial stability to sustainable development, inflation, debt, and proposed strategies to support growth in these markets.

Saudi Arabia’s hosting of the event underscores its prominent position and leadership role both regionally and globally. It also highlights the Kingdom’s commitment to supporting emerging economies and fostering cooperation among them.

Emerging economies undeniably play a key role in the global economy, driving 65% of global growth.
They continue to record strong growth rates, with the IMF projecting a 4.3% growth in 2025 and 4.2% in 2026, compared to a global economic growth of just 3.3% during the same period.

This translates into higher employment rates and increased consumer spending, positioning these economies as attractive destinations for investors seeking major opportunities.