Saudi Arabia Promises the World A New Wave of Transformations in the Kingdom

SourceAl Bawaba
SectorTechnology
CountrySaudi Arabia

"The things we'd like to achieve in 2030 will be our optimal way of starting the next phase, which is what we will do until 2040, or after that to 2050," "The things we'd like to achieve in 2030 will be our optimal way of starting the next phase, which is what we will do until 2040, or after that to 2050," Al-Rumayyan told a virtual session of CERAWeek — the "oil man's Davos" — in Houston, Texas. "Our society is changing, the people are becoming more receptive to new ideas on how companies should work and how society should function, and even the social contract is changing. If you add all of these together, you will have an idea of what Saudi Arabia, by embracing and implementing Vision 2030, will look like in nine years," he said. Al-Rumayyan, who is also chairman of Saudi Aramco, said plans remained in place to sell more shares in the world's biggest oil company, after the biggest initial public offering (IPO) in history in 2019 when it sold less than 2 percent of its shares.

"From the very beginning we said we would be selling more ...read more...