United Kingdom to help reform Saudi economy.
Statements from Theresa May’s office said the meeting between the british Prime Minister and Saudi Arabia will help the Kingdom to diversify its oil-dependent economy, changing tax and privatization standards, and also strengthening business ties. Concerning the security sector, May said that security relations between the two countries saved many lives in the UK and that Britain will help the Kingdom build a reformed Ministry of Defense. Moreover May’s visit to Saudi Arabia aims to find secure investments and trade and for that reason May presented Yasir Al-Rumayyan of the Saudi Public Investment Found (PIF) with a high level overview of investments opportunities. What the London Stock Exchange (LSE) and other top stock exchanges are trying to do is win a slice of state oil company Saudi Aramco’s initial public offering, as Saudi Arabia plans to transfer Aramco’s shares into the PIF before listing up to 5 percent the company. May also said Britain is a big supporter of Saudi Vision 2030, an ambitious reform plan, and due to this support many british officials will visit the Kingdom. In fine Theresa May and King Salman discussed the humanitarian situation in Yemen.