privatization (C1)

noun

Pronunciation: /ˌpraɪ.və.taɪˈzeɪ.ʃən/

Definition

The process of transferring ownership or control of a business, industry, or service from public to private hands.

Examples

• The privatization of state-owned enterprises is a common policy in many developing countries.

• Critics argue that the privatization of healthcare can lead to reduced access for low-income individuals.

• The company's successful privatization was followed by a period of significant investment and expansion.

How to Use privatization

privatization of (prepositional phrase)

Indicates what is being transferred from public to private ownership. — "The privatization of state-owned companies is a key economic reform."

privatization program (collocation)

A planned series of actions to privatize businesses or industries. — "The country launched a new privatization program to attract foreign investment."

Synonyms of privatization

Words with a similar meaning to privatization:

• denationalization
• sale
• transfer
• divestment

Antonyms of privatization

Words with the opposite meaning to privatization:

• nationalization
• public ownership

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