Saudi Cabinet approves plan outlining reform priorities

Staff Writer
Columbus CEO

RIYADH, Saudi Arabia (AP) — Saudi King Salman says the kingdom's Cabinet has approved a plan laying out reform priorities for the next decade and a half.

The monarch announced the approval for the "Vision 2030" plan in a short televised announcement on Monday in which he called on Saudis to work together ensure its success.

The king's son, Deputy Crown Prince Mohammed bin Salman, spelled out some details of the program in a pre-recorded interview aired shortly after the announcement on Saudi-owned broadcaster Al-Arabiya.

He says a partial initial public offering of the state-owned oil company Saudi Aramco is part of the reform plan to turn the economy around from reliance on oil to being investment-driven.