Baku – APA-Economics. Saudi Arabia is getting ready for the twilight of the oil age by creating the world’s largest sovereign wealth fund for the kingdom’s most prized assets, Bloomberg reported.
Over a five-hour conversation, 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. The initial public offering could happen as soon as next year, with the country currently planning to sell less than 5 percent.
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