05 1440 | Jan 2019

Vision 2030 constitutes roadmap for kingdom s development, economy objectives for next 15 years, Crown Prince says

Riyadh, Rajab 18, 1437, April 25, 2016, SPA -- His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, the Crown Prince, Vice President of the Council of Ministers and Chairman of the Council of Economic and Development Affairs, stressed that the Kingdom of Saudi Arabia s Vision 2030, approved by the cabinet on Monday, constitutes a roadmap for the kingdom s development and economy objectives for the next 15 years. 

In an exclusive interview with Al Arabiya News Channel by Turki Aldakhayel, Crown Prince Mohammed bin Salman said that the Kingdom of Saudi Arabia was founded by late King Abdul Aziz and his companions without the need for oil, pointing out that it is very dangerous to deal with Aramco company as our constitution. He said that Aramco s reverence by some is a very big problem and we have a state of oil addiction in the kingdom, which disrupted the development. He added that we will turn Aramco into a holding company and move its operations to companies owned by it. 

Crown Prince explained that high risks would have occurred if there had not been a move to offer Aramco for public subscription, saying that the investment fund will not manage Aramco and there will be a board of directors to manage it. He pointed out that we have three strong points on which nobody competes with us: they are our Arab and Islamic depth, our investment strength and our geographical location. 

23:31 LOCAL TIME 20:31 GMT