Saudi Minister of Finance Al-Jadaan in Roundtable Discussions ‎ with Coalition of Korean Companies ‎

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.