The policy of 'liberalization' means the policy of 'privatization'.
The aggregation includes the government's licensing of industries in the private sector, investment and adaptation to maximize profits.
Liberalization is the policy of the government without any interference in the establishment and development of industries.
Liberalization is a prerequisite for the process of globalization and privatization is a necessary process for liberalization.
Liberalization means to liberalize the rules and economic regulations that regulate trade so that the global market can benefit the country's economy as part of globalization. E.g. To allow foreign investment in different sectors.