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The Kingdom Has Made Great Strides to Develop the Saudi Economy over the Last Three Years as well as to Secure the Governance and Restructure of Many Sectors, HRH Crown Prince says

Saudi Press Agency

Wednesday 1440/2/15 - 2018/10/24

Riyadh, Safar 15, 1440, Oct 24, 2018, SPA -- His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Vice President of the Council of Ministers, and Minister of Defense, who is also Chairman of the Board of Directors of the Public Investment Fund (PIF), affirmed that the incident of citizen Jamal Khashoggi is very painful for all Saudis in particular, and for every human being in the world.

"This incident is completely heinous and unjustified. Today, the Kingdom of Saudi Arabia is taking all legal measures to probe and complete all investigations, in cooperation with the Turkish government, in order to reach findings and bring all culprits to justice to receive deterrent punishment. This measure is what any government should do in such cases. The cooperation between the Saudi and Turkish governments is distinct"," HRH the Crown Prince said.

This came at the outset of HRH the Crown Prince's participation within Future Investment Initiative (FII) 2018 titled "How Visionary Leadership Will Transform the Arab World into a Global Economic Powerhouse" together with Prince Salman bin Hamad Al Khalifa, the Bahraini Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister, and Prime Minister of the Republic of Lebanon Saad Al-Hariri.

HRH the Crown Prince said "We know that many are trying to exploit this painful situation to drive a wedge between the Kingdom of Saudi Arabia and Turkey. I want to send a message to them from this platform. They will not be able to do so as long as King Salman, Crown Prince Mohammed bin Salman and President Erdogan are in office. Such rift will not happen and we will prove to the world that the two governments are cooperating to punish any criminal and culprit. Jjustice will prevail."

In presence of President of the Republic of Senegal Macky Sall; President Ali Bongo Ondimba of the Republic of Gabon; Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister of the UAE and Ruler of Dubai; Deputy Prime Minister of Ethiopia Demeke Mekonnen, and a number of princes, ministers, senior officials of a number of states and heads of the investment companies from around the world, HRH the Crown Prince stated that the Kingdom of Saudi Arabia has made great strides to develop the Saudi economy over the last three years as well as to secure the governance and restructure of many sectors, affirming that "I think that time has come to restructure the sectors of the national security in the Kingdom of Saudi Arabia in line with the economic sectors' growth in the Kingdom."

In response to a question about the exerted reform efforts and the question of the seriousness of the Kingdom of Saudi Arabia, in carrying out required economic and social reforms, HRH the Crown Prince said: "The numbers are talking and changing every day for the better. When we look at figures in the last two or three years, for example, non-oil revenues are almost tripled, and we find that the current budget is the largest budget, in the history of Saudi Arabia."

HRH revealed that the budget for next year will for the first time exceed the SR1 trillion barrier, pointing out that the salaries section, in Saudi Arabia's budget was almost making 50% of it, however they are expected to decrease to 45%, next year, given salary increases as well as increase in employment ratio. It was indeed a very big challenge to keep the ratio lowered, while the budget and staffing doubled.

"We believe that the unemployment figures will improve next year until we reach 2030," he said. "The size of the public investment fund, for example, was three years standing at $150 billion and this year reached $300 billion, he said.

Of the $400 billion target, in 2020, may be reached by the public investments, at the beginning of 2019. We may reach in 2020 to $500 or $600 billion, up to $2 trillion or more in 2030.

Our position in global competitiveness improved, HRH stressed, citing an announcement several weeks ago. He pointed out that "the figures show where we were and where we are today, and the figures next year will explain this".

Speaking about reform in various sectors, whether cultural, recreational or sport, HRH remarked that "I think it is very clear not in terms of Saudi classification in many centers, nor in terms of activities within Saudi Arabia, and that there are astronomical leaps in the three aspects, compared to past years and this will undoubtedly continue, because I live among a great and mighty people, just setting a goal and achieving it with ease, and I do not think there are any challenges for the great Saudi people. "

"Saudi Arabia continues, and whatever derailers try to do to curb our efforts, we will not stop, God willing," he said.

On the future of the Middle East, HRH the Crown Prince said that there are outstanding projects in the Middle East. "If we look at the Middle East after the founding of the United Nations, its situation has always been difficult. Countries that work well rely on natural resources, but a man came in the nineties and showed us a model and made us all convinced in the Middle East and we can offer more, HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Premier of the United Arab Emirates and Ruler of Dubai, who presented a model in Dubai and made all the Middle East convinced that we can offer, not just as a Dubai but even more a lot", he commented.

"We want to compete to raise the ambition, also in the Kingdom of Saudi Arabia. We want everyone to raise the ambition. We can see that Abu Dhabi has moved very strongly in successive fast achievements, in the whole UAE. Since Bahraini Crown Prince came to office in 1999, Bahrain has achieved great and huge achievements. This is nothing about what will happen in the next five years in Bahrain. Today, Kuwait has a vision 2035. It has a wonderful people and has very large financial resources. With great ease, it will be able to achieve huge achievements," HRH the Crown Prince said.

"Last year, the Egyptian economy achieved a growth about 5% or more. This year, more than 5% of unemployment rates are falling very rapidly in Egypt. The construction of housing units and infrastructure projects are increasing in a way I hardly believe in Egypt. I visit some sites in Egypt. I find that all officials are crying as they work on the ground in order to restore great Egypt, the strong Egypt. However, they believe that they are not yet started in spite of everything they have achieved in the last two years. We can see a strong and very impressive work led by the Prime Minister of Lebanon to restore Lebanon and its forefront position and starting from that point. I am sure that the efforts of our brothers in Lebanon will succeed under the leadership of the Lebanese Prime Minister and leaders. Jordan has very great and ambitious projects. We participate in some of these projects. Oman has major projects and is trying to move Oman to another stage in addition to its work in the past years with the Kingdom of Saudi Arabia."

I think that the Middle East will turn into a new Europe-like in the next five years, HRH Crown Prince predicted. Saudi Arabia will be quite different in the next five years. Bahrain will be quite different, aslo Kuwait, and so Qatar, which we are at odds with them, have a strong economy and will be completely different after five years. And come in the row the UAE, Oman, Lebanon, Jordan, Egypt and Iraq.

If we succeed in the next five years, more countries will join us. In the next thirty years, the Middle East will make history, God willing, HRH Crown Prince stated.

This is the war of the Saudis. This is my war, that which I am personally engaged in. I do not want to leave life before I see the Middle East ranking ahead of the world, I think this goal will be achieved 100 percent" HRH remarked.

HRH Prince Mohammed bin Salman bin Abdulaziz noted that in any war there might be battles being lost, and we do not expect to win all the battles, but the Saudis have a concern. We have a mountain where we always use to cite it as an example, in order to compare it to the Saudis' will, it is Tuwaiq, the far above reaching mountain, if that mountain is to be leveled down to earth, then our will might be crushed, the Crown Prince concluded.

-- SPA
22:41 LOCAL TIME 19:41 GMT
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