Saudi Economic Reforms “Could Have Global Impact”

A successful restructure of the Saudi Arabian Public Investment Fund (PIF) would represent a great opportunity for Saudi Arabia to have a positive impact not only the region, but also the world, according to a London Business School strategy expert.¬†The transformation of the PIF is a key aspect of Saudi Vision 2030 which was announced by Deputy Crown Prince Mohamed Bin Salman last month as part of reforms to wean the Gulf kingdom off its reliance on oil revenues.¬†Ioannis Ioannou, Associate Professor of Strategy and Entrepreneurship, London Business School, said: “Vision 2030, if implemented with sufficient realism and practicality, represents a unique opportunity for Saudi Arabia to leverage this important role that capital markets are playing globally, in terms of allocating scarce financial resources towards building a sustainable economy, generating green jobs, promoting environmentally friendly business and establishing socially inclusive organisations.

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