Merger And Acquisition Services The oil industry constitutes about forty-five percent of the nominal GDP of the Kingdom of Saudi Arabia, and forty percent comes from the private sector. Saudi Vision 2030 was announced in April 2016 with the strategic goal of diversifying the kingdom’s economy to reduce the country’s dependence on oil. In line with this objective, several reforms have been introduced, particularly in the business sector. These reforms include more flexibility for foreign investors to participate in the economy of Saudi Arabia. In 2017, as part of Vision 2030, Saudi Arabia announced a massive project called NEOM, which involves building a new center in the desert overlooking the Red Sea, with a pledged budget of US$500 billion.
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