Aviation: 27 Saudi airports to be operated by private companies from next year

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The 27 Saudi airports will be fully privatize by the middle of 2018 to make airports independent bodies, Al Sharq Al Awsat newspaper reports.

Saudi Civil Aviation highlighted to the newspaper that the privatization plan will increase the asset values of these airports and attract huge foreign investments.

Deputy Chairman of the Civil Aviation, Dr Faisal Al Saqeer, expected that the foreign investments are expected to represent 75 percent in some of the airports.

Saudi Arabia announced last week a plan to privatize 16 government authorities as part of the economic vision 2030. This is the first phase of the privatization program, while they were chosen among 147 government organizations and 85 state projects.

The privatization plan aims to cut the government expenditure by reducing the operational cost of running various organisations and promote the role of the private sector as important contributors to the GDP.

Saudi Arabia, which is taking solid steps to get ready for the post oil era, hopes the privatization plan will attract local and foreign investments.

 

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