Deputy crown prince: ‘Sky is the limit’ for Saudi society amid reforms

April 22, 2017

Jeddah, Apr 22: The “sky is the limit” for Saudi Arabian society if people are willing to embrace the change, the Kingdom’s Deputy Crown Prince Mohammed bin Salman has said.

princeIn a wide-ranging interview with American columnist David Ignatius, the deputy crown prince reflected on the ground-breaking changes presently taking place in the Kingdom under the Vision 2030 plan.

He told Ignatius that the crucial requirement for reform is public willingness to change a traditional society, saying the era of extreme religious conservatism is over.

“If the Saudi people are convinced, the sky is the limit,” he was quoted as saying.

David Ignatius, who was in the Kingdom this week as part of the press corps accompanying US Defense Secretary James Mattis, wrote about Saudi Arabia in an in-depth opinion article for The Washington Post.

The article drew heavily on his 90-minute conversation with Deputy Crown Prince Mohammed bin Salman.

“Two years into his campaign as change agent,” the deputy crown prince “appears to be gaining the confidence to push his agenda of economic and social reform,” Ignatius wrote.

“Change seems increasingly desired in this young, restless country,” he wrote. He quoted a recent poll which indicated that 85 percent of the public, if forced to choose, would support the government rather than religious authorities on policy matters.

The article also reveals that 77 percent of those surveyed supported the government’s Vision 2030 reform plan, and that 82 percent favored public music performances attended by men and women.

During the conversation with Ignatius, the deputy crown prince was optimistic about President Donald Trump; the prince described him as a president who will bring America back to the right track.

“Trump has not yet completed 100 days, and he has restored all the alliances of the US with its conventional allies,” Ignatius quotes the deputy crown prince as saying.

The article talks about the growing ties between Saudi Arabia and the US as evidenced in the discussions with Mattis during which the possibility of additional US support was discussed “if the Houthi insurgents in Yemen don’t agree to a UN-brokered settlement.”

The deputy crown prince favored a relationship of equals between Saudi Arabia and the US. “We have been influenced by you in the US a lot,” he told Ignatius. “Not because anybody exerted pressure on us — if anyone puts pressure on us, we go the other way. But if you put a movie in the cinema and I watch it, I will be influenced.” Without this cultural nudge, he said, “We would have ended up like North Korea.”

Explaining to Ignatius about why Saudi Arabia has been wooing Russia, the deputy crown prince said: “The main objective is not to have Russia place all its cards in the region behind Iran. (We have been) coordinating our oil policies (recently with Moscow) in what could be the most important economic deal for Russia in modern times.”

The deputy crown prince also talked about the pace of economic reforms, which he says “appear to be moving ahead slowly but steadily.”

The prince said that the budget deficit had been reduced; non-oil revenue increased 46 percent from 2014 to 2016 and is forecast to grow another 12 percent this year. Unemployment and housing remain problems, he said, and improvement in those areas is not likely until between 2019 and 2021.

Ignatius describes the deputy crown prince as “the instigator of (the) attempt to reimagine the Kingdom,” and observes that “unlike so many Saudi princes, he wasn’t educated in the West, which may have preserved the raw combative energy that is part of his appeal to young Saudis.”

According to the deputy crown prince, “extreme religious conservatism in Saudi Arabia is a relatively recent phenomenon, born in reaction to the 1979 Iranian revolution and the seizure of the Grand Mosque in Makkah by Sunni radicals later that year.”

“I’m young. Seventy percent of our citizens are young,” he told Ignatius. “We don’t want to waste our lives in this whirlpool that we were in for the past 30 years. We want to end this epoch now. We want, as the Saudi people, to enjoy the coming days, and concentrate on developing our society and developing ourselves as individuals and families while retaining our religion and customs. We will not continue to be in the post-’79 era,” he said. “That age is over.”

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News Network
January 12,2020

Dubai, Jan 12: Saudi Arabian oil giant Aramco announced Sunday that its initial public offering raised a record $29.4 billion, a figure higher than previously announced, after the company used a so-called "greenshoe option" to sell millions more shares to meet investor demand.

The company said that the sale of an additional 450 million shares took place during the initial public offering process.

The oil and gas company, which is majority owned by the state, began publicly trading on the local Saudi Tadawul exchange on December 11. It hit hit upwards of $10 a share on the second day of trading. This gave Aramco a market capitalization of $2 trillion, making it comfortably the world's most valuable company.

Aramco's additional sales mean the company has publicly floated 1.7% of its shares. It's IPO, even before the added sales, was the world's largest ever.

The shares sold in the over-allotment option "had been allocated to investors during the book-building process and therefore, no additional shares are being offered into the market today," Aramco said.

Company shares traded down on Sunday, dipping to around 34.7 riyals, or $9.25 a share, amid heightened tensions in the Persian Gulf between Iran and the United States. Aramco was a target of rising tensions over the summer when a missile and drone attack, which Saudi Arabia and the US blame on Iran, temporarily halved its production.

Sunday's trading figures value Aramco at $1.85 trillion, still well ahead of Apple, the second largest company in the world after Aramco, but below the $2 trillion mark sought by Crown Prince Mohammed bin Salman.

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Agencies
June 20,2020

Riyadh, Jun 20: Saudi Arabia will end a nationwide curfew and lift restrictions on businesses from Sunday morning after three months of lockdown to curb the spread of coronavirus, state news agency SPA quoted a source in the interior ministry as saying on Saturday.

The curfew will be lifted as of 6 AM local time on Sunday. Restrictions will remain, however, for religious pilgrimages, international travel and social gatherings of more than 50 people.

The kingdom introduced stringent measures to curb the spread of the novel coronavirus in March, including 24-hour curfews on most towns and cities.

In May, it announced a three-phase plan to ease restrictions on movement and travel, culminating in the curfew completely ending on June 21.

The number of coronavirus infections has risen in recent weeks following a relaxation of movement and travel restrictions on May 28.

The kingdom has recorded 154,223 cases of COVID-19 and a total of 1,230 deaths, the highest in the six-nation Gulf Cooperation Council.

Saudi Arabia plans to limit numbers at the annual haj pilgrimage to prevent a further outbreak of coronavirus cases, sources familiar with the matter told Reuters earlier this month.

Some 2.5 million pilgrims visit the holiest sites of Islam in Mecca and Medina for the week-long haj, a once-in-a-lifetime duty for every able-bodied Muslim who can afford it. Saudi Arabia asked Muslims in March to put haj plans on hold and suspended the umrah pilgrimage until further notice.

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News Network
March 26,2020

Riyadh, Mar 26: Leaders of the Group of 20 nations will hold a summit today via video conference to discuss measures to protect the global economy, amid coronavirus pandemic which has claimed over 18,000 lives globally.
The summit, which will be chaired by Saudi Arabia's King Salman bin Abdulaziz Al Saud, aims to "advance a coordinated global response to the COVID-19 pandemic and its human and economic implications," according to the statement published by the G20 Secretariat on Tuesday.
The lethal virus which was first detected in December last year in the Chinese city of Wuhan, has since, infected over 4,14,179 people around the world.
The coronavirus has already resulted in major disruption of global supply chains, volatility and large drops in the stock market and could cause a financial crisis as stated by IMF Managing Director Kristalina Georgieva.
India is a member nation of the G20 group.
Speaking on the summit on Wednesday, Prime Minister Narendra Modi said that the Group of 20 (G20) has an important role to play in the fight against coronavirus.
He said: "The G20 has an important global role to play in addressing the #COVID19 pandemic. I look forward to productive discussions tomorrow at the G20 Virtual Summit, being coordinated by the Saudi G20 Presidency."
The other members include Argentina, Australia, Brazil, Canada, China, Germany, France, India, Indonesia, Italy, Japan, Mexico, the Russian Federation, Saudi Arabia, South Africa, South Korea, Turkey, the UK, the US, and the European Union.
In view of the coronavirus outbreak situation, several international organisations -- including the United Nations, World Bank, the World Health Organization and the World Trade Organization will take part.
Leaders from the Food and Agriculture Organization, the Financial Stability Board, the International Labour Organization, International Monetary Fund, the Organization for Economic Cooperation and Development -- will also be the part of the conference.

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