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Here’s The Rundown Of The Crown Prince’s Latest Speech

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Crown Prince Mohammed bin Salman has launched a new five-year strategy for Saudi Arabia’s wealth fund as Saudi Arabia and it serves to drive towards achieving Vision 2030.

The Crown Prince made a speech that revealed further details about how the Kingdom will diversify the economy away from dependence on oil in the coming months and years

The  Crown Prince explained that Public Investment Fund (PIF) will pump at least $40 billion a year into the local economy, and contribute U$320 billion to non-oil GDP.

It will also create 1.8 million jobs by 2025

Essentially, the 2021-2025 strategy will focus on launching new sectors, empowering the private sector, developing the PIF’s portfolio, achieving effective long-term investments, supporting the localization of sectors and building strategic economic partnerships.

 

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