Saudi crown prince: Only few differences with Biden administration

Reuters | Dubai

The Daily Tribune – www.newsofbahrain.com

Saudi Arabian Crown Prince Mohammed bin Salman said in remarks aired on Tuesday that the United States was a strategic partner and that Riyadh had only a few differences with the Biden administration which it was working to resolve.

Prince Salman also said Saudi Arabia would not accept any pressure or interference in its internal affairs.

“We are more than 90% in agreement with the Biden administration when it comes to Saudi and US interests and we are working to strengthen these interests,” the prince said.

“The matters we disagree on represent less than 10% and we are working to find solutions and understandings ... there is no doubt that the United States is a strategic partner,” he added.

Saudi Arabia is also building strategic partnerships with Russia, India and China, he said in an interview on Saudi TV.

No plans to introduce income tax

Prince Salman also said that the kingdom had no plans to introduce income tax and a decision last July to triple value-added tax to 15% was temporary.

The kingdom had tripled VAT to offset the impact of lower oil revenue on state finances during the coronavirus pandemic.

“Raising VAT was a painful measure and I hate to hurt any Saudi citizen, but it is my duty to build Saudis a long-term sustainable future,” the prince said.

“Raising VAT to 15% is a temporary decision that will last one to five years and then it will go down to between 5% to 10%,” he said.

Prince Mohammed also said the kingdom aims to reduce unemployment to 11% this year. Unemployment among Saudi citizens fell to 12.6% in the fourth quarter of 2020 from 14.9% in the third quarter.

In talks to sell 1% of Aramco, The crown prince also said that the kingdom was in discussions to sell 1% of state oil firm Saudi Aramco to a leading global energy company.

The company could sell further shares including to international investors within the next year or two.

 “There are talks now for the acquisition of a 1% stake by a leading global energy company in an important deal that would boost Aramco’s sales in ... a major country,” he said, without elaborating