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912 KB
Extraction Summary
1
People
4
Organizations
1
Locations
1
Events
1
Relationships
4
Quotes
Document Information
Type:
Table of contents / financial research report
File Size:
912 KB
Summary
This document is the Table of Contents for a Merrill Lynch research report titled 'GEMs Paper #26', dated June 30, 2016. The report analyzes Saudi Arabia's 'National Transformation Plan' (NTP) and 'Vision 2030', covering economic sectors including energy, health, telecom, and defense. The document bears the Bates stamp 'HOUSE_OVERSIGHT_016112', indicating it was produced as part of a Congressional investigation.
People (1)
| Name | Role | Context |
|---|---|---|
| Research Analysts | Authors |
Mentioned as the final section of the report on page 86.
|
Organizations (4)
| Name | Type | Context |
|---|---|---|
| Merrill Lynch |
Logo appears in footer; document is identified as GEMs Paper #26.
|
|
| Public Investment Fund |
Listed in TOC: 'Public Investment Fund to gain prominence'.
|
|
| MSCI |
Listed in TOC regarding market inclusion.
|
|
| House Oversight Committee |
Implied by the Bates stamp 'HOUSE_OVERSIGHT_016112'.
|
Timeline (1 events)
Locations (1)
| Location | Context |
|---|---|
|
The primary subject of the report (NTP, Vision 2030, Saudi market, etc.).
|
Relationships (1)
Merrill Lynch published this research report analyzing the Saudi economy.
Key Quotes (4)
"National Transformation Plan: many promises, few details"Source
HOUSE_OVERSIGHT_016112.jpg
Quote #1
"Vision 2030 a start but Needs Transparent Proposals"Source
HOUSE_OVERSIGHT_016112.jpg
Quote #2
"Saudi Arabia approves 100% foreign ownership rules"Source
HOUSE_OVERSIGHT_016112.jpg
Quote #3
"Defence: Vision 2030 supports defence spending"Source
HOUSE_OVERSIGHT_016112.jpg
Quote #4
Full Extracted Text
Complete text extracted from the document (1,804 characters)
Contents
Macro: charting the way forward 3
Towards better governance 3
Public Investment Fund to gain prominence 7
Historic energy sector liberalization 10
National Transformation Plan: many promises, few details 13
Lessons in diversification 31
Eurobond premium required for fiscal slippage risk 34
Commodities: NTP adds to medium-term oil market tightness 36
Equity Strategy: more clarity required, but investible themes emerging 39
Six key investible themes from the NTP are emerging 40
Saudi market valuation not testing 42
Taking positive steps to accelerate MSCI inclusion 45
A higher weighting in international indices 45
Telecom: supporting a move to higher connectivity 48
NTP helps increase penetration of higher margin offerings 48
Health: Not Tremendously Prescriptive 51
Vision 2030 a start but Needs Transparent Proposals 51
Healthcare implications of National Transformation Plan 51
Consumer: a necessary pain 58
Prefer staples over discretionary 58
Rationalization of subsidies for water and electricity 60
Saudi Arabia approves 100% foreign ownership rules 61
Real estate: NTP positive but not enough 64
Key strategic objectives and KPIs to watch 64
Land tax - gradual revenue source 65
Metals & Mining: ambitious growth target 67
Government focus on mining to boost jobs and growth 67
Oil & gas/petchems: focus on downstream 69
Focus on downstream expansion is a priority 69
Refining capacity target: almost there 71
Ambitious natural gas expansion 72
Utility sector: sharing the capex burden and achieving cost reflective tariffs 73
Eight strategic objectives aimed at being self-funding 73
Defence: Vision 2030 supports defence spending 75
Saudi Arabia to build out military industrial base 75
Research Analysts 86
Macro: charting the way forward 3
Towards better governance 3
Public Investment Fund to gain prominence 7
Historic energy sector liberalization 10
National Transformation Plan: many promises, few details 13
Lessons in diversification 31
Eurobond premium required for fiscal slippage risk 34
Commodities: NTP adds to medium-term oil market tightness 36
Equity Strategy: more clarity required, but investible themes emerging 39
Six key investible themes from the NTP are emerging 40
Saudi market valuation not testing 42
Taking positive steps to accelerate MSCI inclusion 45
A higher weighting in international indices 45
Telecom: supporting a move to higher connectivity 48
NTP helps increase penetration of higher margin offerings 48
Health: Not Tremendously Prescriptive 51
Vision 2030 a start but Needs Transparent Proposals 51
Healthcare implications of National Transformation Plan 51
Consumer: a necessary pain 58
Prefer staples over discretionary 58
Rationalization of subsidies for water and electricity 60
Saudi Arabia approves 100% foreign ownership rules 61
Real estate: NTP positive but not enough 64
Key strategic objectives and KPIs to watch 64
Land tax - gradual revenue source 65
Metals & Mining: ambitious growth target 67
Government focus on mining to boost jobs and growth 67
Oil & gas/petchems: focus on downstream 69
Focus on downstream expansion is a priority 69
Refining capacity target: almost there 71
Ambitious natural gas expansion 72
Utility sector: sharing the capex burden and achieving cost reflective tariffs 73
Eight strategic objectives aimed at being self-funding 73
Defence: Vision 2030 supports defence spending 75
Saudi Arabia to build out military industrial base 75
Research Analysts 86
2 GEMs Paper #26 | 30 June 2016
Merrill Lynch
HOUSE_OVERSIGHT_016112
Merrill Lynch
HOUSE_OVERSIGHT_016112
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