Deputy Crown Prince Mohammed bin Salman bin Abdulaziz, Second Deputy Prime Minister and Defense Minister, said that there are forthcoming programs that will be launched under the umbrella of the Kingdom of Saudi Arabia's Vision 2030. In a press conference held yesterday after the launch of the "Kingdom of Saudi Arabia's Vision 2030," the Deputy Crown Prince said that the first of these programs is the national transformation program, expected to be announced by the end of the 5th month or the beginning of the 6th month, indicating that it would be an executive program to achieve the objectives of the vision in many sectors the most important of which are the sector of services and needs of citizens and it will have more and clear details when launched. Here's the press conference of the Deputy Crown Prince: Q: We are beginning to see a new Saudi Arabia, and see its features today, where the contribution of the private sector is 40%, according to what is now part of the privatization project. There is a strong privatization that will focus on education and health but there are experiments we have found in other countries where the privatization projects benefit the richer by virtue of financial capacity. How do we make sure that the results of this privatization will not make rich more richer and the poor poorer? A: We have an experience in STC when it was privatized; its shares were offered for public subscription. Those who subscribed were the citizens and not the businessmen. In the health sector, the idea now is to turn the holding hospitals owned by the Ministry of Health into a holding company and then be offered for public subscription. In this way, they will be offered to citizens directly and those who buy the shares will be the citizens. This will mostly prevent businessman and the wealthy from taking advantage of the privatization process as it will have high transparency and through direct subscription by citizens. Q: The vision is carried out through two tracks: a clearer economic track and the social track; the question is about the social track: how will it materialize for citizens and how will they feel it in a short period of time; is there a timetable, whether in health, education and housing or certain stages to be clearer? A: Forthcoming programs will be announced and launched under the umbrella of the "Kingdom of Saudi Arabia's Vision 2030," the first of which is the national transformation program expected to be announced by the end of the 5th month or the beginning of the 6th month. It will be an executive program to achieve the objectives of the vision in many sectors the most important of which is the sector of services and the needs of the citizens. They will have more details and clearer when launched. Asked about Aramco, he said, "Firstly, we are talking about more than a trillion dollars and until now, valuation of Aramco has not finished. We are working on this thing with the banks and specialized centers. We expect that the evaluation of Aramco will be more than two trillion dollars." He added that there are non-Aramco assets that will enter the fund and part of them will be also income for the fund with a value that may reach $ 300 billion in addition to the current value of the fund which is nearly $ 200 billion. In this way, we will have a public investment fund with the size of more than a trillion, nearly $ 3 trillion. Freezing the production of Aramco has nothing to do with its value or entry to the fund and the decision is for the benefit of Aramco. Already, competent authorities in the kingdom have announced that the kingdom would welcome any process to freeze production if shared among all the major states in OPEC, but so far the other states did not take the initiative and did not commit to freezing their production. On a question concerning women, the Deputy Crown Prince said that women's work is very important and they are half of the society, and they are effective and productive in our country. "Women's car driving is not a religious issue but rather a social one. Until today, society is not convinced with women's driving and believes there will be very negative consequences if women are allowed to drive but I stress that this issue is totally related to the desire of the Saudi society and we cannot impose on them anything they do not want. But in the future, changes occur and we hope to be positive changes. On Aramco's IPO, the Deputy Crown Prince said the company will offer less than 5% later and companies owned by Aramco will be offered very shortly afterwards. We expect that there will be a growth in the Saudi economy with a very high rate over the next 15 years. We do not expect it to be in the first years because they will be years for reform, but after the years of reform, we expect very high growth that will make us move forward in our position to become one of the twenty largest economic countries in the world. Asked about young people forming a large proportion in the kingdom and the vision 2030 for this category, the Deputy Crown Prince said that young people are the real power which is the most important feature. The good feature is high, strong and creative ambition. They have high values. The remaining is just to have a vision and achieve it. Q: Do we allow antiquities' excavators in the kingdom and scientists to excavate with the right to keep them? A: Yes, this is what we are trying to reach, God willing. Q: You spoke with respect to the sovereign fund that 50% will be directed to foreign investments and 50% to the inside and we are looking to diversify the economic domestic source. Will there be a preference for the foreign over the domestic or will they be balanced? A: The fund looks to invest for pure profitability. The fund's function is not to bear the responsibility of the nation. Its role is to create revenues and profits, and the role of government is to look for revenues. So, the focus of the fund is purely an investment focus. On research centers' planning for years to come, he highlighted care by the king for planning and that many actions have already been taken in 2015. He added, "In addition, we use the Saudi expertise and Saudi offices in the planning and this is an important work that we have a very strong planning on the level of the King and the team that works with king, or the level of government or the Ministry of Planning." Asked about oil prices, the Deputy Crown Prince said, "We can achieve the vision if the oil price is thirty dollars or less and we think it is nearly impossible that oil loses $ 30 by virtue of the current demand existing in the world." He added that no doubt the rise in oil prices will be important support for realizing this vision which is planned on the basis of achieving a price of $ 30 in order not to put the Kingdom in any risk of low oil prices. With regard to a question about the vision of the kingdom's economy, the Deputy Crown Prince said the vision was not built on a decline in oil prices. It is a vision to take advantage of the opportunities in our dear homeland. On a question on Saudi human resources, the Deputy Crown Prince highlighted the great importance of Saudi human resources saying that Saudis are strong and a source for pride. He added that Saudis are able to work in all sectors and will help in achieving this vision while caring for the future generations in the kingdom. On major international factories in the kingdom, he said that "we have global major factories in the kingdom today. About his vision on armament and the military, he said the vision addresses the military industries in the kingdom which he hopes to bolster and create a new economic sector providing many jobs and very high profit. Asked about the kingdom's oil policy, he said that the kingdom already announced in all forums that it does not politicize its oil policies for its political interests in the kingdom. It is only for the benefit of Aramco, he added. On bureaucracy, the Deputy Crown Prince said that the vision tackles this issue in one of its clauses and there will be intensive work with the legislative authority to issue or modify some of the regulations that have to do with the work of businessmen and Saudi companies to facilitate the procedures they have, and try to raise the level of services provided to businessmen. Responding to a question, he said that all of us will make our children better and stronger. On obstacles in the way of the vision, he said one of them was to convince a Saudi that Aramco was not part of our faith: Aramco is an investment, and there are many obstacles we faced within the Saudi government and some of the media and with some readers, but when you explain to them things clearly, many people are convinced like what happened today and we need everyone's support in achieving this vision for the benefit of everyone. Responding to a question, he said that this is not a dream: this is a reality that will be achieved, God willing. He added that "we do not dream; we think of a reality that will be achieved, God willing. He hoped to hear people's views on the vision. On numbers of pilgrims, he said that about pilgrims, it is very difficult to greatly increase their number because of time and site limitations, adding that "we deal with the Hajj as a religious duty. It is our duty to offer Hajj services completely free, and this is the duty of all Saudis towards the Muslim world. As for Umrah, there is a chance to increase Umrah performers and visitors throughout the year. We target increasing them to 30 million in the next 15 years. Yes, we also target tourists in various fields: in history, civilization and culture, and also in some distinctive natural sites. Responding to a question, the Deputy Crown Prince said that privatization of some services such the Red Crescent and Civil Defense is difficult for lack of profitability. On a question, he said that "will rely on Egypt and Sudan in a very prime way in agriculture, we will rely on Egypt in a very large way in the promotion of our exports to Europe, and we will rely on Egypt in a very prime way in Asian exports to Europe, this will be a very big benefit to Saudi Arabia and Egypt, we also have other programs with the Gulf states linking roads, connecting rail network and linking the ports with each other. He added that "we have programs with Jordan in line with the vision, and all neighboring countries we have with them very strong programs that will be reflected upon them directly." On the role of civil society institutions in vision 2030, he said that "we focus very strongly on the development of the non-profit sector on private family wealth and I am assure that most of the wealthy families in Saudi Arabia have a very strong desire in non-profit work but they do not find the suitable environment and appropriate regulations that protect their money if they turn them into non-profit institutions that guarantee them work inside and outside Saudi Arabia in a good way. We look to the non-profit sector as an important sector in support of the education process and the march of culture and in the health sector and in the research sector, and we will rely on non-profit sector in a very prime way. There are opportunities to convert some sectors to non-profit sectors such as King Faisal Specialist Hospital and there are ideas considering converting King Saud University to a non-profit institution or non-profit association. There are many initiatives to support and strengthen the non-profit sector. On the expansion of civil society institutions, he said that "undoubtedly the expansion of the institutions of civil society is very important for work in many sectors. On privatization of sports clubs, the Deputy Crown Prince said that "we focus on the sports market or football market. We wish it to be a successful market providing revenues for clubs. I think there are many issues that can be addressed in terms of reducing the cost of running Saudi clubs and creating additional profits for clubs. For example, the number of foreign players if increased in the Saudi league and more numbers are allowed, this would directly affect cutting the prices of contracts for Saudi players in light of access to non-Saudi players at a lower price. This will reduce costs of running any club and other measures that will directly support many sports in the kingdom. On programs to support future leaders preparation, he highlighted support for leaders in all fields. On private sector's contribution to GDP from 40 to 65 percent, he said Aramco's IPO is a part of supporting the GDP by the private sector because Aramco will be a part of the private sector and not the public sector, stressing that the privatization will increase the proportion of the private sector's productivity.
