Privatization? Since virtually everything there is already the property of the Saudi family, new foreign investment could scarcely increase the degree of privatization. Besides, if the investment is in new projects it would no more represent "privatization" than did Lenin's policy of "concessions" in the NEP.
Shane Mage
"Thunderbolt steers all things."
Herakleitos of Ephesos, fr. 64
http://english.aljazeera.net/Articles/Economy/Saudis+push+privatisation.htm
Saudis to push privatisation
Monday 29 September 2003, 3:06 Makka Time, 0:06 GMT
The Saudis decided last year to open up the economy
Saudi Arabia is set to embark on an ambitious privatisation drive, unveiling specifications for 21 water and power projects.
Worth nearly $13 billion, details of the projects will be revealed on Monday to local and foreign investors attending a conference of the 100 top companies in the Gulf region.
"The Saudi Electricity Company and the Water and Electricity Company will unveil specifications for 21 projects in the fields of power general and transmission and water desalination," the kingdom's Water and Electricity Minister, Ghazi bin Abd al-Rahman al-Qusaybi said.
The kingdom last November had endorsed a plan to open up 20 vital sectors for local and foreign private investors in a bid to generate tens of billions of dollars to pay for a staggering public debt.
Areas opened up to the private sector include telecommunications, water desalination, air transport, airport services, construction and management of highways, seaport services and local oil refineries.
