Riyadh- According to Deputy Crown Prince Mohammed bin Salman, Saudi Arabia will be announcing soon a comprehensive plan under the name of “the Kingdom’s Vision”, which outlines the country’s approach for the post-oil era.
The plan will be announced on April 25, and it includes programs addressing all domains of economy, society and development.
Prince Mohammed said that the Kingdom will launch the plan of national transformation within a time range of 30-45 days of announcing the “Kingdom’s Vision.” His Highness also said that the plan and its implementation comprise several aspects like the transformation of Saudi Aramco and adding a new outlook for the Saudi Arabian Public Investment Fund (PIF); which is expected to become the greatest sovereign wealth fund world-wide.
The Deputy Crown Prince, in an interview with Bloomberg, said that Saudi Arabia will support any collective agreement taken by OPEC (Organization of the Petroleum Exporting Countries); however, the Kingdom still wishes to see all OPEC members freeze output production first, so that it joins in freezing production.
Moreover, Prince Mohammed confirmed that his country will sustain a market share estimated between 10.3 and 10.4 oil barrels/day, given that no agreement has been reached during the last OPEC meeting held in Doha, Sunday, on freezing production.
His Highness clarified that his country will not miss any chances on selling its oil if no agreement is collectively endorsed. Prince Mohammed confirmed that Saudi Arabia is not worried by the plummeting oil prices since its program is not founded on high oil prices.