The country plans to improve efficiency by conducting privatizations of several state-owned enterprises.

privatizations 是名词 privatization 的复数形式。privatization 由形容词 private（私有的）加上后缀 -ize（使...化）变成动词 privatize，再加上名词后缀 -ation 构成，表示"私有化"的过程或行为。在这里指"将国有企业转为私有"的一系列举措。