International Focus Magazine Premiere Edition | Page 38

Our Deputy Crown Prince Mohammed bin Salman laid out his
vision for the Public Investment
Fund, which will eventually control more than $2 trillion and help
wean the kingdom off oil. As part
of that strategy, Saudi will sell
shares in Aramco’s parent company and transform the oil giant
into an industrial conglomerate.
The initial public offering could
happen as soon as next year, with
the country currently planning to
sell less than 5 percent.

$1.1 billion and the same month
agreed to a $10 billion partnership to invest in Russia with the
Russian Direct Investment Fund.
Earlier this month, the Public Investment Fund invested $3.5 billion in Uber, which is one of the
biggest single investments collected by the technology world’s top
privately held companies.

prices. Saudi Arabia continuously
seeks to find alternative sources
that contribute to the development of the Saudi economy and
society through the provision of
employment opportunities, housing, education, health, thus building and maintaining its infrastructure for the welfare of the Saudi
people.

On the other hand, Saudi Arabia is seeking to meet the security challenges facing the region
Mr. Al-Angari: The impor- through compacting terrorism. In
The sale of Aramco will play a tance of Saudi Arabia to the Mus- 2005 we organized and hosted an
major role in our economy, in- lim world stems from the pres- international conference to comvesting at home and abroad. In ence of the holy places in Makkah pact terror attended by 55 nations.
fact, we have already started to be- and Madinah. The importance We called for the establishment of
come more active abroad. In July of Saudi Arabia to the world as an International Center to comof last year, the Public Investment a whole originates from it be- pact terrorism and will remain
Fund acquired a 38 percent stake ing one of the largest producers committed to defeating terrorism
in South Korea’s POSCO Engi- and exporters of oil which seeks in all its forms.
neering & Construction Co. for to stabilize its global markets and
38 iF Magazine | July 2016

Katia: What are some big picture
issues facing Saudi Arabia?