The
over $312 billion oil revenue makes Saudi
Arabia, the Middle East’s biggest economy and the world’s largest oil producer.
Oil accounts for almost half the economy and 90
percent of her export revenue. She is running out of her
black gold. Some estimate that the oil wells would run dry as early as 2030.
In
a bid to achieving a soft landing into the imminent doom, she has prioritized diversification,
opening her notoriously insulated stock exchange to
foreign investors and investing in solar power, poultry, dairy, petrochemicals
and innovative technology.
Below
are the companies leading the vanguard:
Glowork
Saudi Aramco
Almarai
The
current nosedive of global oil price also sends strong signal to the Saudi
government as well as other OPEC countries running monocultural economy that
bases on oil that there is a strong need for diversification.
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