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Saudi Arabia Unlocks Investment Opportunities in Public Sector as Cabinet Approves Privatization Drive

Saudi Arabia approves privatization plan that opens partnership opportunities with investors and the private sector, Asharq Al-Awsat
Saudi Arabia approves privatization plan that opens partnership opportunities with investors and the private sector, Asharq Al-Awsat
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Saudi Arabia Unlocks Investment Opportunities in Public Sector as Cabinet Approves Privatization Drive

Saudi Arabia approves privatization plan that opens partnership opportunities with investors and the private sector, Asharq Al-Awsat
Saudi Arabia approves privatization plan that opens partnership opportunities with investors and the private sector, Asharq Al-Awsat

The Saudi cabinet has approved a privatization plan aimed at increasing the participation of the private sector in the Kingdom’s infrastructure projects and provision of public services. It also works on reinforcing healthy competition according to the best international practices.

On Tuesday, the Council of Ministers passed the Private Sector Participation (PSP) Law, which works on supporting Public-Private-Partnerships (PPP) in 16 different government sectors.

Supported by the National Center for Privatization (NCP), the law will contribute to spurring economic growth by supporting the launch of privatization initiatives and projects and partnerships between the public and private sectors in front of local and international investors.

It will also be instrumental to improving the balance of payments and raising the private sector’s contribution to the Kingdom’s GDP from 40% to 65%.

The NCP is currently supporting 16 sectors targeted for privatization in developing and launching a pipeline of privatization and partnership opportunities and initiatives that will contribute to unlocking state-owned assets to the local and international private sector.

Such an initiative will help advance the goals and objectives laid out by the Saudi national plan for transformation, dubbed the Kingdom’s Vision 2030.

The Vision aims to pump more investments into the national economy, creating attractive investment opportunities for the private sector and increasing its contribution to the GDP so as to enhance the sustainability of the Saudi economy, said Saudi Finance Minister Mohammed Al-Jadaan.

The minister, who is also chairman of the Privatization Program Committee and chairman of NCP’s board of directors, said that the law aims to create an environment that allows raising the volume and level of services provided to citizens and expatriates.

He added that it also establishes the necessary flexibility in the regulatory and investment environment for privatization projects in the Kingdom in a way that supports and enhances the implementation of these projects within an attractive and stimulating regulatory and investment environment for short- and long-term investments.

According to Al-Jadaan, the new law will enhance the participation of the private sector in economic growth and make available procedures related to privatization projects.

NCP CEO Rayan Naqadi, for his part, said that the law aims to raise the contribution of the private sector in government projects, enable the distribution of responsibilities and risks between the government and the private sector, reduce the government’s capital budget, and organize all activities and procedures related to implementing privatization projects.

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Business

China Widens Foreign Investment Incentive List to Stem Falling Inflows

People visit a shopping center in Beijing on December 20, 2025. (AFP)
People visit a shopping center in Beijing on December 20, 2025. (AFP)
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China Widens Foreign Investment Incentive List to Stem Falling Inflows

People visit a shopping center in Beijing on December 20, 2025. (AFP)
People visit a shopping center in Beijing on December 20, 2025. (AFP)

China on Wednesday listed more sectors eligible for foreign investment incentives, from tax breaks to preferential ​land use, in its latest effort to stem a prolonged decline in overseas capital inflows.

Under the 2025 edition of the catalogue of industries for encouraging foreign investment, China added more than 200 and revised about 300, with a ‌focus on ‌advanced manufacturing, modern services and ‌green ⁠and ​high-tech ‌sectors, the list jointly issued by the National Development and Reform Commission and the commerce ministry showed.

The new catalogue, which takes effect on February 1, 2026, replaces the 2022 version and continues a policy framework ⁠that offers foreign-invested enterprises tariff exemptions on imported equipment, preferential ‌land pricing, reduced corporate income ‍tax rates in ‍designated regions and tax credits for reinvestment ‍of profits.

The catalogue also extends incentives to central and western regions, as well as the northeast and Hainan, as Beijing seeks to attract ​more foreign investment into less developed areas.

China has in recent months ⁠taken a raft of measures to boost foreign investment, including pilot programs in Beijing, Shanghai and other regions to expand market access in services such as telecoms, healthcare and education, amid trade tensions with the United States.

Foreign direct investment in China totaled 693.2 billion yuan ($98.84 billion) from January to November this year, down 7.5% from the ‌same period last year, data from the commerce ministry showed.

Business

Environment Ministry Launches Saudi Citrus Season with Production Exceeding 158,000 Tons

The citrus production season in the Kingdom begins in July and continues through March each year. (SPA)
The citrus production season in the Kingdom begins in July and continues through March each year. (SPA)
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Environment Ministry Launches Saudi Citrus Season with Production Exceeding 158,000 Tons

The citrus production season in the Kingdom begins in July and continues through March each year. (SPA)
The citrus production season in the Kingdom begins in July and continues through March each year. (SPA)

The Saudi Ministry of Environment, Water and Agriculture launched on Wednesday the Kingdom’s citrus season in local markets as part of its efforts to support and develop the agricultural sector and enhance food security in the country, in line with the Saudi Vision 2030.

The is part of the ministry’s ongoing efforts to support national agricultural products, raise awareness of citrus varieties and their nutritional benefits and production areas, and highlight their year-round diversity across production seasons.

These efforts help in improving marketing efficiency, boost competitiveness, and achieve rewarding economic returns.

Citrus fruits are among the most widely cultivated crops in the Kingdom. They are grown in several regions that produce a variety of citrus types, most notably lemons, oranges, mandarins, grapefruit, citron, and kumquats.

The ministry said lemon production leads Saudi citrus output, with total production exceeding 123,000 tons and more than 1.5 million fruit-bearing trees. Orange production follows, with total output reaching 35,700 tons and more than 397,000 fruit-bearing trees.

The citrus production season in the Kingdom begins in July and continues through March each year, it added.

The ministry said the Saudi citrus season has been launched with a number of major retail markets across the Kingdom showcasing local products through innovative packaging and display methods. This boosts the quality and reliability of local products and increases consumer demand during production seasons.

Business

SLB Awarded 5-Year Contract to Stimulate Unconventional Gas in Saudi Arabia

SLB has been awarded a five-year contract by Saudi Aramco to provide stimulation services for its unconventional gas fields. (Asharq Al-Awsat)
SLB has been awarded a five-year contract by Saudi Aramco to provide stimulation services for its unconventional gas fields. (Asharq Al-Awsat)
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SLB Awarded 5-Year Contract to Stimulate Unconventional Gas in Saudi Arabia

SLB has been awarded a five-year contract by Saudi Aramco to provide stimulation services for its unconventional gas fields. (Asharq Al-Awsat)
SLB has been awarded a five-year contract by Saudi Aramco to provide stimulation services for its unconventional gas fields. (Asharq Al-Awsat)

Global technology company, SLB, has been awarded a five-year contract by Saudi Aramco to provide stimulation services for its unconventional gas fields, the company said in a statement on Tuesday.

The move is part of a broader multi-billion contract, supporting one of the largest unconventional gas development programs globally, it said.

The contract encompasses advanced stimulation, well intervention, frac automation, and digital solutions, which are important to unlocking the potential of Saudi Arabia’s unconventional gas resources - a cornerstone of the Kingdom’s strategy to diversify its energy portfolio and support the global energy transition.

“This agreement is an important step forward in Aramco’s efforts to diversify its energy portfolio in line with Vision 2030 and energy transition goals,” said Steve Gassen, SLB executive vice president.

“With world-class technology, deep local expertise, and a proven track record in safety and service quality, SLB is well positioned to deliver tailored solutions that could help redefine operational performance in the development of Saudi Arabia’s unconventional resources,” he added.

These solutions provide the tools to work toward new performance benchmarks in unconventional gas development.

SLB is a global technology company that drives energy innovation for a balanced planet.

With a global footprint in more than 100 countries and employees representing almost twice as many nationalities, it works on innovating oil and gas, delivering digital at scale, decarbonizing industries, and developing and scaling new energy systems that accelerate the energy transition.