Tag: Saudi Crown Prince Mohammed bin Nayef

Saudi prince unveils $2 trillion plan to shift from kingdom’s oil dependence

The powerful young prince overseeing Saudi Arabia’s economy unveiled ambitious plans on Monday (April 25) aimed at ending the kingdom’s “addiction” to oil and transforming it into a global investment power. Deputy Crown Prince Mohammed bin Salman said the kingdom would raise the capital of its public investment fund to 7 trillion riyals ($2 trillion) from 600 billion riyals ($160 billion). He added that the world’s top oil exporter expects state oil company Saudi Aramco […]