Saudi Arabia Economy

Just a few months after the unveiling of Saudi Vision 2030, we began launching executive programmes with clear objectives and methods to achieve the vision. Many achievements have already been made, including a contribution to the treasury from the Public Investment Fund (PIF). We transferred SR100bn ($26.7bn) to the PIF and initiated a...

When Crown Prince Mohammed bin Salman laid out Saudi Arabia’s Vision 2030 in April 2016, he proposed reducing the country’s dependence on oil revenues by modernising the economy and creating a more moderate society. While the full economic impact of the plan will take a few years to be felt in the country, a series of bold moves to loosen...

Home to an estimated 15.7% of the world’s proven oil reserves and the single largest economy in MENA, Saudi Arabia is a key player not only in the region, but also globally. Since its establishment in September 1932, the Kingdom has poured its considerable resources into a series of large-scale economic development, diversification and...

The number of sovereign wealth funds (SWFs) operating in the GCC has grown significantly in the last decade. The value of these SWFs – created to invest and manage the huge sums flowing into the region from hydrocarbons sales – stood at $2.9trn in March 2017, according to the Sovereign Wealth Fund Institute (SWFI), reflecting 38.5% of the...

The foundations for a major overhaul of the economy were laid during 2017, with the Saudi government taking steps to privatise key state assets and stimulate investment, as part of plans to diversify the economy away from a reliance on hydrocarbons revenues.