(MENAFN- Saudi Press Agency)
In his turn Supreme Vice President for Finance Strategy and Development of Saudi Aramco Engineer Abdallah bin Ibrahim Al-Saadan said:
'Delivering Saudi Vision 2030 will transform our national economy and reduce the over-dependence on oil. The listing of Saudi Aramco and other privatizations will increase investor confidence in the local stock market and boost foreign direct investment market stability and overall growth. This will be good for the country and for Saudi Aramco and its customers partners and suppliers.'
For his part General Counsel of Saudi Aramco Dr. Nabeel bin Abdulaziz Al-Mansour said:
'Saudi Vision 2030 outlines dramatic actions to be taken which will cut bureaucracy and implement wide-ranging transparency and accountability reforms nationally. These steps will make it easier to do business within the Kingdom of Saudi Arabia and will in turn increase commercial activity foreign direct investment and job creation. In addition the prospect of an initial public offering of Saudi Aramco will elevate the international visibility of our strategic decision-making and accountability practices. This will promote a greater understanding of Saudi Aramco's business capabilities and increase confidence in our long-term strategic orientation and governance and thus be a positive development for the Company.'
--SPA
13:00 LOCAL TIME 10:00 GMT
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