The Vision 2030 plan to transform the kingdom’s economy was causing great uncertainty even before the sweeping arrests delivered a seismic shock
On the face of it, nothing much in Saudi Arabia has changed as a result of the sweeping crackdown on royals and businessmen accused of corruption last weekend.
Saudi officials insist that the biggest economic transformation of the country’s economy since the discovery of oil in the 1930s – the Vision 2030 Strategy of Crown Prince Mohammed bin Salman – is still on track. So too are plans for the biggest initial public offering in history – that of Saudi Aramco, potentially valued at $2tn . They also reiterate that a $200bn privatisation programme is going ahead as planned.