Privatization in Saudi Arabia: Is slow beautiful?

The aim of this article is to abridge the dearth of academic research on Saudi Arabia's privatization strategy, which is touted by government as key to empowering the business community in the largest economy in the Middle East and North Africa region. Whereas some contend privatization has moved at a slow pace and that the business model employed for privatizing public enterprises lacks commercial business efficiency standards, government retorts that, guided by an organized and sequential process, privatization has been successful. This article maintains that if privatization is to confer the benefits claimed for it and sway international investors equipped with modern managerial skills and technical know‐how, authorities need to accelerate privatization and subject enterprises to steadfast market competitive forces.