Saudi King Salman bin Abdulaziz chaired the cabinet meeting
Riyadh … News Time
Saudi cabinet approved a comprehensive plan for the oil economy of renewable energy projects for the approval of Vision 2030. According to Arab media Saudi King Salman bin Abdulaziz chaired the cabinet meeting which was discussed to rely on sources other than oil for improvement of economy. The Cabinet approved the Vision 2030 AD according to the Saudi economy will gradually develop other sectors of the oil industry and trade, Will encourage private and foreign investment in the Saudi economy and dependence on oil income will be minimal. Deputy Crown Prince and Defense Minister of Saudi Arabia Prince Mohammad Bin Salman stimulation of new projects of which public assets under the Vision 2030 project that will be sold, Tax rate will increase, costs will be cut, The management of foreign exchange reserves will also be fundamental changes and opportunities will be created to play a greater role in the development of the national economy for the private sector. Prince Mohammad Bin Salman Vision 5% of the 2030 state oil company Aramco announced to sell shares early next year. Aramco is the world’s largest company in terms of capital in the oil market.
