Saudi Arabia on competitiveness course

Saudi Arabia

RIYADH, December 14, 2016 – Saudi Arabia is reportedly planning to reshuffle the assets of some of its major companies in a bid to increase their competitiveness and raise their international profile.

Citing sources familiar with the plans, Bloomberg on Wednesday said that Saudi Aramco and Saudi Basic Industries Corporation (Sabic) were among the five companies that fit the profile.

The reallocation of assets is meant to eliminate overlap and put a clearer emphasis on core business activities, with the sources pointing to Samsung in South Korea and ChemChina as yardsticks.

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