The Saudi Crown Prince, Prime Minister, Chairman of the Council of Economic and Development Affairs, Chairman of the Board of Directors of the Public Investment Fund , Prince Muhammad bin Salman , announced today, Sunday, the completion of the transfer of an additional 4 percent stake in the shares of the Saudi Arabian Oil Company “ Aramco ” from state ownership to a company Subsidiary to the Public Investment Fund, bringing the share controlled by the fund in the oil group to 8 percent.

The official Saudi News Agency, "SPA", quoted Prince bin Salman as saying that the transfer of ownership of part of the state's shares in the Saudi "Aramco" company comes as a continuation of the Kingdom's initiatives aimed at strengthening the national economy in the long term, diversifying its resources, and providing more investment opportunities, which contributes to In achieving the objectives of the Kingdom's Vision 2030.

He pointed out that the transfer process contributes to maximizing the assets of the Public Investment Fund and increasing its investment returns, which enhances the fund's strong financial position and its credit rating, stressing that the state remains the largest shareholder in Saudi Aramco, after the transfer process, with a rate of (90.18%) of the shares. The total shares of the company.

The Crown Prince concluded his statement that the Public Investment Fund is continuing to launch new sectors, build strategic economic partnerships, localize technologies and knowledge, in addition to creating more direct and indirect jobs in the local labor market.