Aramco IPO part of Saudi plan to tackle lower oil revenues

摘要

Saudi Arabia announced on 25 April sweeping economic changes as it battles to diversify its economy in the face of falling oil revenues. The Saudi cabinet has agreed on a broad-based plan, Vision 2030, that outlines how the oil-reliant country plans to diversify over the next 14 years. It includes creating a massive, $2-trillion sovereign wealth fund to boost Saudi Arabia's worldwide investment power.