According to the son of King Salman of Saudi Arabia, the country should, in 2020, be no more dependent on oil and build itself a new future. “I believe we will be able to live without oil in 2020,” he said on TV, announcing an ambitious plan to transform and diversify the economy.

The project consists in selling on the bourse, less than 5% of Saudi Aramco as well as its 261 billion barrels reserves, in order to create the world’s biggest sovereign fund: a 2 trillion dollars fund. “We restructured the fund. We integrated new assets, Aramco and other assets, and we solved issues related to assets that are presently held by the public investment fund,” said the prince.

World’s leading oil producer will then become the biggest investor, controlling 3% of global assets and holding 10% of global investment capacity.

Saudi Arabia also plans to receive Arab and Muslim immigrants by providing them green cards like it is done in the USA.