Saudi investment fund will turn kingdom into a global player - top prince

[April 25, 2016]  RIYADH (Reuters) - Saudi Arabia's new investment fund will turn the world's top oil exporter into a global investment power, Deputy Crown Prince Mohammed bin Salman said in a television interview on Monday.

He said in an interview on al-Arabiya television to announce sweeping reforms known as Vision 2030 that the kingdom's existing Public Investment Fund had made returns of 30 billion ($8 billion) riyals in 2015.

Asked by Arabiya whether he thought the management of PIF would be too autocratic, he said there would be an elected board that would make investment decisions for PIF.

(Reporting By Andrew Torchia, Rania El Gamal, Hadeel al-Sayegh, Katie Paul and Angus McDowall)

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