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Riyadh unveils sweeping plans to end oil 'addiction'


04-26-2016 19:28 BJT

Saudi Arabia has unveiled plans to end what it calls its 'addiction' to oil, and transform the country into a global investment power.

Deputy Crown Prince Mohammed bin Salman said under the plan -- dubbed "Saudi Vision 2030" -- the kingdom will make itself capable of living without oil within the next four years - a very ambitious goal for a country that exports more energy than any other.

At the centre of the plan, the restructuring of its Public Investment Fund, which the deputy crown prince said would become a hub for Saudi investment abroad.

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