MOFA organizes closing meeting of Saudi-Chinese Youth Dialogue Forum

Updated 09 November 2012
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MOFA organizes closing meeting of Saudi-Chinese Youth Dialogue Forum

Riyadh: Ministry of Foreign Affairs organized at its headquarters here yesterday the closing meeting of the Saudi-Chinese Youth Dialogue Forum.
It is worth mentioning that the activities of the forum in its 3rd round were held in the Chinese city of Beijing, on September 20-28, 2012.
The Saudi-Chinese Youth Dialogue Forum was patronized by the Ministry of Foreign Affairs of the Kingdom of Saudi Arabia within the framework of a call from the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz Al Saud for dialogue among followers of religions and other cultures and civilizations.
--SPA


Green light for crown prince-led Saudi privatization program

Updated 25 April 2018
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Green light for crown prince-led Saudi privatization program

  • The Privatization Program is one of 12 key elements of the Saudi Arabia’s Vision 2030
  • The program is aimed at increasing job opportunities for Saudi nationals

RIYADH: Saudi Arabia’s Council of Economic and Development Affairs on Tuesday approved the Privatization Program that is one of 12 key elements of the Kingdom’s Vision 2030. 

The program is aimed at increasing job opportunities for Saudi nationals, attracting the latest technologies and innovations, and supporting economic development.

It encourages both local and foreign investment in order to enhance the role of the private sector, with government entities adopting a regulatory and supervisory role. The aim is to increase the private sector’s contribution to GDP from 40 percent to 65 percent by 2030. 

The program will aim to reach its objectives through encouraging the private sector to invest in establishing new schools, universities and health centers, while the government pursues its organizational and supervisory role in health and education.

The privatization program aims to benefit from previous success stories, with the private sector’s collaboration in the development of infrastructure, and its involvement on a large scale in sectors such as energy, water, transport, telecommunications, petrochemicals and finance.

The program sets out a series of objectives in three areas: Developing a general legal framework for policies related to privatization; establishing organizational foundations and dedicated institutions to execute the policies; and setting a timescale for their delivery. 

The Council of Economic and Development Affairs is headed by Crown Prince Mohammed bin Salman.