A real economic transformation is underway in Saudi Arabia

'Vision 2030' is reducing country's dependence on oil exports

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Saudi Arabia's first robot, Sara, on display in Riyadh in February: The country is pivoting to reduce its heavy reliance on petroleum exports.  © Reuters

Tarek Fadlallah is managing director and CEO of Nomura Asset Management's Middle East branch. The views expressed herein are his own and not those of Nomura.

Economic transformation is defined by swift and radical change that can be structured and deliberate, such as that of the U.K. in the early 1980s, or unplanned and chaotic, as in Eastern Europe after the fall of the Berlin Wall.

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