10 salient points from Crown Prince Interview

Saudi Crown Prince Muhammad Bin Salman appeared in a TV interview on 27 April where he highlighted several achievements regarding the vision 2030 on the completion of 5 years of its launch. Here are some salient points of his interview;

1 – There will be no income tax in Saudi Arabia at all.

2 – The VAT is 15% at this time which will reduce in the next 5 years.

3 – The shares of Aramco will be sold to foreign investors during the next year or two.

4 – The Public Investment Fund (PIF) size is expected to be doubled in the next 5 years.

5 – The unemployment rate was 14% at the time of the launch of Vision 2030 and it is expected to reduce to 11% this year.

6 – We aim to have 3 universities out of the 200 most important universities in the world by 2030.

7 – Riyadh will be one of the best cities with infrastructure, compared to global cities with a population of more than 5 million.

8 – Under Saudi Green Initiative, the government will plant 50 billion trees in the region out of which 10 billion trees will be planted in Saudi Arabia.

9 – He categorically said that Saudi Arabia won’t tolerate any outside pressure on its internal affairs.

10 – Concerning the Yemeni conflict, the Crown Prince said he aims to find a political solution to it.

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Steve has been living in Saudi Arabia since 2013 and writing about Saudi rules, regulations, guides, and procedures since then.