continued the effort to "Saudize" the labour force. The seventh plan (2000–2004) focused more on economic diversification and a greater role of the private sector in the Saudi economy. For 2000–04, the government aimed at an average GDP growth rate of 3.16% each year, with projected growths of 5.04% for the private sector and 4.01% for the non-oil sector. The government also set a target of creating 817,300 new jobs for Saudi nationals. Advertising expenditures have reached new peaks due to emphasis on value-added manufacturing. The main investing countries in Saudi Arabia in 2016 were the US, UAE, France, Singapore, Kuwait and Malaysia. They mainly invested in chemical industry, real estate, tourism, fossil fuels, automobiles and machinery. As part of its diversification, Saudi Arabia has been inking major refinery contracts with Chinese and other companies. After Saudi Arabia became a member of the World Trade Organization (WTO) in 2005, the overall foreign investment environment in Saudi Arabia improved for many reasons including: the stable economy, the kingdom's massive oil reserves, its high power of expenditure, the developed infrastructure, reinforced finance, and its banking system. Since then and pursuant to its commitment to the WTO, Saudi Arabia has been developing trade-related policies and legislations. Moreover, foreign investment has been highly encouraged with Saudi Vision 2030 and its economic diversification. Since 2017, to boost the economy and decrease the country's dependency on oil, Mohammed bin Salman has introduced multiple changes, such as raising the prices of gasoline and electricity, levying new taxes, and prioritizing Saudi workers over foreign workers. However, some government officials claimed the policies were causing serious ill effects on the economy. Saudi businessmen reported a decline in sales for 2018, and a few blamed the government. In 2019, Financial Times reported that the plans to float state-owned oil beneficiary Saudi Aramco were stranded between the company's attachment to the oil ministry and the desire to meet international standards. However, Energy Minister Khalid Al Falih has long maintained that Aramco's association with the state is a "win-win policy" for both parties. Future Saudi Arabia has announced plans to invest about $47bn in three of the world's largest and most ambitious petrochemical projects. These include the $27 billion Ras Tanura integrated refinery and petrochemical project, the $9 billion Saudi Kayan petrochemical complex at Jubail Industrial City, and the $10 billion Petro Rabigh refinery upgrade project. Together, the three projects will employ