I've thought of it many times, actually an "ally" due to the petro dollar, what programs has Saudi Arabia implemented to prepare for a transition to a post-oil world economy?
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1Hi and welcome this is an interesting topic, but we want to minimize opinion here, as mentioned in our tour. I took the liberty of a slight modification with that in mind.– user9389Commented Dec 1, 2017 at 16:23
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sure; the article explains that the sovereign funds are there to make strategic investments for the future prosperity or 'thriving' of SA, for example higher education and so on; there's a paucity of that in SA as they just now buy in the expertise from Egypt and elsewhere.– Mozibur UllahCommented Dec 1, 2017 at 17:23
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what happened to my earlier comment which linked the article - I didn't delete it! I'd have asked this in Meta, but I can't seem to find the link for it.– Mozibur UllahCommented Dec 1, 2017 at 17:59
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here is the original link– Mozibur UllahCommented Dec 1, 2017 at 19:27
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1 Answer
The crown prince has laid out a variety of diversification measures in something called Vision 2030
Major parts of this include:
Selling off 5% of ARAMCO to be traded publicly (the state's national oil company, often cited as the most valuable company in the world) in part to create a massive sovereign wealth fund.
Creating a megacity in the middle of the desert to be designated as a special economic zone for economic cooperation with Jordan and Egypt
Socially modernizing the country (to an extent) and starting a green card system to attract foreign investment and foreign peoples who otherwise might have avoided the historically ultra socially conservative state.
