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Saudi Arabia to create world's largest wealth fund

It unveils a vast plan to transform its oil-dependent economy and will sell shares in state energy giant Aramco

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Prince Mohammed says the Saudi SWF will include current fiscal assets of about US$600 billion, plus US$1 trillion from the sales of state-owned real estate and industrial areas and Aramco shares.

Riyadh

SAUDI Arabia said on Monday that it would create the world's largest wealth fund and sell shares in state energy giant Aramco as it unveiled a vast plan to transform its oil-dependent economy.

The announcement of the long-term reform programme, dubbed "Saudi Vision 2030",