DHAKA: The Council of Ministers of Kingdom of Saudi Arabia has approved Vision 2030, the ambitious plan to transform the Saudi economy away from its dependence on oil, Custodian of the Two Holy Mosques King Salman announced on Monday.

King Salman made the announcement while chairing the weekly Cabinet meeting that focused specifically on the plan proposed by the Council of Economic Affairs and Development led by Deputy Crown Prince Mohammed bin Salman, second deputy premier and defense minister.

Quoting the Saudi Press Agency, Arab News reported the matter.

The Cabinet stated the council should “set up the necessary mechanisms and arrangements to implement this vision and follow it up”.

In addition, all ministries and government agencies must implement each part of the plan set aside for them.

King Salman said that he has had the task of ensuring the “comprehensive development” of the country based on Islamic principles since he ascended to the throne. The main aim was to make sure the country maximizes its potential and capabilities, he said.

The government was committed to ensuring benefits accrue from the country’s strategic location and natural resources “to achieve a better future” for citizens. This must be done by adhering to “our pure religion” and the nation’s cultural and traditional values, said the king.

The monarch said this was the basis on which the Cabinet has made its decision to approve the economic transformation plan, which he hoped would be “a model for the world at all levels.”

BDST: 0929 HRS, APR 26, 2016
SR