Sunday 12 May 2019

#SaudiArabia's non-oil sector set for boost as economic reforms take off

Saudi Arabia's non-oil sector set for boost as economic reforms take off:

Saudi Arabia’s non-oil sector is set for a further boost as the Kingdom’s economic reforms pay dividends and work begins on a raft of mega-projects, a report published Sunday found.

Under the ambitious Vision 2030 plan, the country is looking to reduce its reliance on the energy industry and boost private sector business.

Such reforms are paying off, with growth in the Kingdom’s non-oil sector set for an additional “pick up” going forward, according to a report by Bank of America Merrill Lynch.

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