RIYADH: With the aim of attracting the world’s top educational institutions to open branches in Saudi Arabia, the Ministry of Education is working on legislation to amend the country’s education regulations. The government, represented by the Agency for Private University Education, is busy reviewing executive and organizational rules of the Private University Education Regulations. The initiatives fall under the umbrella of the university system, which will contribute to a strategic transformation in line with Saudi Arabia’s Vision 2030 objectives. The ministry wants to increase private sector involvement and attract foreign investments, which will have a role in improving the outputs of university education and entering global competitiveness. The total number of students enrolled in private colleges and universities has reached 86,000 in 15 universities – including nine non-profits, and 42 licensed private colleges in the Kingdom, according to the most recent figures released by the Statistics Center of the ministry. There are a total of 409 academic programs, which enhance the chances of successful investment in this sector. The Agency for Private University Education monitored the most important challenges that some private university institutions were having with regard to investing within the Kingdom. Numerous meetings were held with the relevant authorities to study the investment opportunities available in university education and the possibility of marketing them abroad, as well as to address the difficulties and challenges faced by investors.​ According to research by global consulting firm L.E.K, released at the Education Investment Saudi held in Riyadh on Dec. 7, 2022, rapidly increasing household disposable income and growth in the youth demographic also shows significant headroom for a return on investments in the Kingdom’s schools. The analysis revealed that the Kingdom is the largest education market in the Gulf Cooperation Council region, with as many as 8.3 million students enrolled in schools and higher education facilities. However, Saudi Arabia has a lower share of enrollment in private schools compared to other GCC countries, according to Chinmay Jhaveri, partner at L.E.K. Consulting’s Global Education Practice. “This leaves significant room for growth in the region,” Jhaveri explained in December, adding: “As a part of Vision 2030, the government aims to transition to a knowledge-based economy, with education as a critical component, the market is expected to become more favorable for private operators.” The education sector is one of the main pillars of the Saudi Vision 2030 reform plan, with a special focus on enabling the private sector to play an active role in developing it.