It is now almost four years since then Deputy Crown Prince Mohammed bin Salman announced his "Saudi Vision 2030" plan, a key theme of which was to provide the country with a "thriving economy" by "investing significantly in promising new growth economic sectors".
At the time, a Reuters article remained rather sceptical of the reforms, noting that
Reform drives have come and gone in Saudi Arabia several times in the past few decades with only modest results. The kingdom remains dangerously dependent on oil exports and low global prices created a state budget deficit of nearly $100 billion in 2015, emphasizing the need for change.
Given the modest impact of the past reform drives, financial markets have moved little before the Vision 2030 announcement.
What steps have been taken so far by the country to diversify its economy in order to become less reliant on oil?