Like a race for the most extravagant amounts.
Tuesday, the day before the announcement of Joe Biden's new infrastructure plan, the crown prince and strongman of the Saudi kingdom, Mohammed Ben Salman, announced a spectacular investment plan of 12 trillion riyals or approximately 3.2 trillion. of dollars.
The objective of “MBS” is to continue supporting the private sector and the diversification of the petromonarchy launched five years ago as part of its Vision 2030 plan which focused, among other things, on tourism and new towns.
This impressive envelope will be divided between approximately 800 billion dollars fed by the sovereign wealth fund PIF, more than 1000 billion to which the twenty-four largest companies of the country will contribute, and finally some 900 billion coming from a "
new strategy of" investments
”not yet disclosed.
Read also:
United States - Saudi Arabia: recalibration, not the rupture
"
This announcement shows renewed vigor towards achieving the goals of Vision 2030,
" comments Maya.
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