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FinancialNews
08-07-17
Aramco's sales of shares will help generating growth
(MENAFN) Saudi Minister of Energy said that Aramco's sales of shares will help the world's largest oil company to generate sustainable growth and quality jobs for citizens of the Kingdom.
While he was announcing Aramco's 2016 annual review, he confirmed that the planned initial public offering (IPO) on Saudi and international stock markets was "the most notable feature of the Kingdom"s transformation" as set out in the Vision 2030 plan to reduce its dependence on oil revenue.
He also said: "The Vision, which aims to diversify the national economy beyond oil and build a thriving private sector, will enable Saudi Aramco to expand its global presence. Concurrently with the Vision, the company will enlarge its supply chain and improve business reliability through a local network of suppliers and manufacturers while increasing the competitiveness of Saudi Arabia"s energy sector."
MENAFN0807201700450000ID1095606969
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