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Saudi Arabia's oil boom days are over, Crown Prince Abdullah said earlier this year. And everything in the country is changing because of it. Protected sectors of the economy could be opened to competition through a proposed membership of the World Trade Organization and international tourists are set to begin visiting the country. It has also been suggested that women be allowed to take a greater role in the workplace. Even with oil and gas, the emphasis is on doing more with these resources - by adding value through the creation of downstream power stations and desalination plants. Significantly, such projects could be open to private sector investment. Oil will still be the backbone of Saudi Arabia's wealth but it looks as though a shift in the sands is revealing a new side to this desert nation. |
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John Charles Gasser, Publisher |