1. The End Of Saudi Arabia's Addiction To Oil: Downstream Industrial Development
- Author:
- Jean-Francois Seznec
- Publication Date:
- 01-2017
- Content Type:
- Special Report
- Institution:
- Atlantic Council
- Abstract:
- Saudi Arabia’s leadership recently introduced an ambitious plan called Vision 2030 to move the country away from oil and toward a more diversified, modern economy. Fortunately, the economy is already much more diversified than is often reported, a fact obscured by the very high price of oil from 2000 to 2014. Since the mid-1970s, the Kingdom has developed chemical, metal, and fertilizer industries that are among the most advanced in the world. Most of these industries have been built on the natural advantages of Saudi Arabia: low-cost energy, large mineral resources, access to plentiful capital, and proximity to the huge markets of Asia.
- Topic:
- International Political Economy, Oil, Natural Resources, and Economic structure
- Political Geography:
- Saudi Arabia