Agri firm to handle foreign investments

Updated 09 May 2012
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Agri firm to handle foreign investments

The Ministry of Agriculture wants to hand over the file of foreign agricultural investments to the Saudi Company for Agriculture Investment and Animal Production (SCAIAP), Dammam-based Arabic daily Al-Sharq reported Tuesday quoting the Minister of Agriculture Fahd Balghunaim.
The minister said the file was under the custody of a government team comprising the Minister of Commerce and Industry (chairman) and the Minister of Agriculture as his deputy in addition to the undersecretaries of the Ministries of Agriculture, Commerce, Finance and Foreign Affairs.
"Handing over the file of the Saudi agricultural investment abroad to a company will save time and effort for a number of government ministries," he said.
SCAIAP is a government-owned company that the Ministry of Finance established. The General Investments Fund represents them with a capital of SR3 billion.
Balghunaim said investing in agriculture in foreign countries would help save the Kingdom's water resources. "The Kingdom's agricultural strategy is three-pronged: Local production, importing and foreign investments," he said, adding that the private sector is continuing its agricultural investments abroad.
The minister also revealed conducting negotiations to investment in agriculture in Bulgaria and Ukraine to provide the Kingdom with agricultural products.


KSA, Mauritania sign MoU to promote moderate values in society

Saudi Islamic Affairs Minister Sheikh Abdulatif Al-Asheikh and his Mauritanian counterpart Ahmed Ould Ahl Dawood at the Ministry of Islamic Affairs headquarters in Riyadh on Sunday. (SPA)
Updated 7 min 43 sec ago
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KSA, Mauritania sign MoU to promote moderate values in society

  • The Mauritanian minister hailed the strong bonds and historical relations between the two countries and their cooperation in many fields

JEDDAH: The Saudi Islamic Affairs Ministry on Sunday signed a memorandum of understanding (MoU) with Mauritania’s Islamic Affairs Ministry to increase cooperation in different fields and to promote the concepts of moderation in Islam.
The MoU was signed between Saudi Islamic Affairs Minister Sheikh Abdulatif Al-Asheikh and his Mauritanian counterpart Ahmed Ould Ahl Dawood at the Ministry of Islamic Affairs headquarters in Riyadh.
The MoU included nine main articles. It envisages cooperation in introducing Islam and its position on contemporary issues, serving the Holy Qur’an and the Sunnah, and cooperation in mosque affairs, their construction and maintenance.
In addition to that, the two sides will work under this MoU to adopt and propose programs to explain and promote concepts of moderation in Islam and assist the progress and advancement of Muslim nation in various fields.
The two sides will also share information, coordinate their efforts during international events, and cooperate in preparing studies and conducting research related to protecting, reviving and spreading Islamic heritage.
The MoU also stated that the two sides shall encourage the exchange of visits at various levels, participate in Islamic seminars and conferences held in both countries, and form a joint committee for the implementation of the MoU’s content.
The MoU concluded that the Hijri date is to be used in all correspondence between the two sides. The MoU shall enter into force on the date of its signature between the two sides and it shall be implemented within five years and will be automatically renewed for the similar duration unless one side informs the other that they wish to amend or terminate it.
Al-Asheikh said: “This memorandum of understanding comes under the guidance of King Salman and Mauritanian President Mohamed Ould Abdel Aziz in the framework of the distinguished historical relations between the two countries, especially in serving Islam and Muslims.”
He referred to what has been achieved through Crown Prince Mohammed bin Salman’s recent visit to Mauritania, which was the first visit of a senior Saudi official to Mauritania in four decades to strengthen relations between the two countries to unprecedented levels.
Al-Asheikh pointed out that the MoU will promote joint cooperation in various fields.
The Mauritanian minister hailed the strong bonds and historical relations between the two countries and their cooperation in many fields.
He also praised the articles of the MoU, which he described as important and historical.