Davos 2023: Saudi Arabia Says Curbing Oil Dependency A Prior...

16 days ago menafn

Saudi Arabia is working to reduce its reliance on oil exports, Economy Minister Faisal Al Ibrahim said Wednesday, as the Middle East powerhouse sent one of the largest delegations to the Davos summit to make its case. “We want to lessen our dependence on oil... We want to diversify our economy, it is important, it is essential,” Al Ibrahim told AFP at the World Economic Forum. “It's never too late for sectors that are starting from scratch in Saudi Arabia. On the heels of the football World Cup in Qatar, Saudi Arabia could be a candidate to host the competition in 2030, recently hiring the Portuguese star Cristiano Ronaldo to promote the potential bid. “We've opened up much more than before and that lets people see,” Al Ibrahim said.
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