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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches, Market

Everything in play for Saudi wealth fund

Posted on 26 April 2016

Saudi Arabia’s cabinet has approved a sweeping package of reforms aimed at modernising the kingdom’s economy while cutting its heavy dependency on oil. Deputy Crown Prince Mohammed bin Salman, 31, set out the plans in Vision 2030, a blueprint for the nation’s future published.
It proposed the creation of the world’s biggest sovereign wealth fund by floating a stake of less than 5 per cent in Saudi Aramco, the state oil producer, plus a string of tax rises and spending cuts designed to boost efficiency and trim government waste………………………………………..Full Article: Source


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