A report published by the British Global Risks Insights hailed Deputy Crown Prince Mohammed bin Salman describing him as a "man who wants to change everything". The article: In Saudi Arabia, one man wants to change everything and move the country out of the oil economy.. His name is Mohammed bin Salman, he is the son of the current king as well as the current defense minister and head of the Council of Economic and Developmental Affairs (CEDA). The prince surprised the entire economic world with the announcement of his huge plan to move Saudi Arabia out of the oil economy, named "Vision 2030". The plan is simple: sell 5% of the national oil company Saudi Aramco to create a national fund with a goal to invest in all sectors of economy that have any relation with the oil industry. The eventual 5% sale of Saudi Aramco will give the Kingdom a major financial boost and the ability to invest and create a new economy; a modern national Marshall plan. The announcement surprised the entire financial world, for whom it is no secret that 5% of Saudi Aramco represents more than 2 trillion dollars — more than double Norway and Abu Dhabi's investment fund. Muhammad Bin Salman's plan is not only based on the sale of Saudi Aramco shares, but also on over 100 billion USD in tax revenue. Will the prince be able to achieve this reform? The prince has the potential to trigger a huge transformation of the Saudi economy for his experience, and his popularity. Prince Mohammed bin Salman is the current minister of defense, a prestigious and important ministry. When he took charge of this ministry, the prince made a number of significant changes in this vital sector with the aim to boost its efficiency so as to make it relevant to the geographical and strategical situation of Saudi Arabia. The large popularity and the support he enjoys from young people in the kingdom is also a major asset for the prince's reformist views. Why Youth? Saudi Arabia's youth represent half the population of the kingdom and are part an economic system that currently strives to create jobs for them. Unemployment among the Saudi youth is becoming the norm, and therefore, the new reforms targeted the youth. The reform plan 'Vision 2030" concentrates on creating new jobs.
