Top manager Klaus Kleinfeld advises Saudi Crown Prince

The German Manager Advises Saudi Arabia

The professional career of German manager Klaus Kleinfeld reads as an image book career. Klaus Kleinfeld was born in Bremen in 1967 and studied business administration and business training. He graduated in 1982 from Georg-August-Universität Göttingen. After that, it skyrocketed in different areas of responsibility. After working at Siemens and the American Alcoa aluminum group, he is now facing a very special challenge. As announced on Tuesday the Saudi government, Kleinfeld should take charge of the technological, financial and economic development of the country from August 1st.

Thus, after ten months, the German manager bid farewell to his post of chief of the "NEOM" infrastructure project on the Red Sea, but remains on the board of directors of the project company.

Prince Mohammed wants to escape economic dependence and invest in new industries such as tourism or technology. For this, Saudi Arabia has sold billions in state investment. It is now over 26,500 square kilometers, a huge industrial area between the Gulf of Aqaba and the Red Sea with an estimated investment of about $ 500 billion. The biotechnology, energy and water industries are also planned for this project

The Economy of Saudi Arabia

Saudi Arabia [VIDEO] is a kingdom with a absolute monarchy in the Arabian Peninsula. The country owns mineral resources such as oil, natural gas, gold, salt, iron ore, phosphorus, marble, limestone, clay and gypsum. It is one of the largest oil producers and the second largest oil reserve in the world. Oil production began in 1938 and oil export in 1944. In addition, tourism is another source of income. Every year, more than three million people make a pilgrimage to visit two of the three holiest sites of Islam in Saudi Arabia. One is the Kaaba in Mecca and the other is the Prophet's mosque in Medina.

Vision 2030

In 2016, the "Vision 2030" was proclaimed by Crown Prince Mohammed bin Salman. The "Vision 2030" is to reduce dependence on oil. While oil and gas still account today for about 47% of gross domestic product, in 2030 they will only represent 11% of GDP. In particular, investments will be made in the training of young people, in photovoltaics as a source of energy and in other fields. The country is now trying to attract investors. However, this requires a cultural openness of the country.