Saudi Arabia plans to open IPO for 5% of Aramco
Salman also said that they expect Aramco to be valued at more than $2 trillion. In the case that Aramco is opened to the public, it would probably become the first company to be valued at more than $1 trillion.
Regarding the economy, the Prince reported that they are seeking to turn away from an oil-based economy which is vulnerable to external shocks. “I think in 2020 we can live without oil,” said the Prince. Through their Vision 2030 reform plan, the Saudi government aims to attract more investment and become a global investment power.
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