Commerce and Health Ministers Shed light at Competitiveness Forum on Growth, Innovation Sectors 2 Riyadh

Engineer Al-Faleh also stressed that the Kingdom is moving to reduce dependence on oil, localize jobs and focus on high-value-added industries, revealing the provision of about 500,000 jobs in the maritime services on the Kingdom’s east coast which will see the light soon to provide several services to Saudi Aramco.
He pointed out that with the drop in oil prices and like any other company, Aramco has worked to reduce expenses and financial costs, stressing that the company has two tracks for the analysis of the oil prices, which is to offer a range of petroleum products in one basket to be provided to the market, and the allocation of a percentage of ownership of the company for Public Subscription and it will provide additional income to the treasury of the Kingdom, giving it a greater confidence in the market, and will be a target for other companies.

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16:48 LOCAL TIME 13:48 GMT