December 19, 2017 / 6:02 PM / a year ago

Saudi Arabia considers creating privatisation fund -economy minister

RIYADH, Dec 19 (Reuters) - Saudi Arabia’s economy minister said on Tuesday that his country was studying the idea of creating a national privatisation fund to facilitate sales of state assets.

“Personally I think it is a valid concept,” Mohammed al-Tuwaijri said in an interview. Such a fund would bundle together state assets and be sold to Saudi citizens at a discount, letting them profit from privatisations; it has been suggested by analysts at State Street Global Advisors and elsewhere.

Tuwaijri also said that among all assets earmarked for sale, efforts to sell state assets in the water and grains sectors had made the most progress. (Reporting by Rania El Gamal and Katie Paul; Writing by Aziz El Yaakoubi; Editing by Andrew Torchia)

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