Saudi-Mauritanian joint committee begins meetings

The Saudi-Mauritanian joint committee at work in Nouakchott, the capital of the African nation, on Thursday. (SPA)
Updated 17 February 2017
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Saudi-Mauritanian joint committee begins meetings

RIYADH: The Saudi-Mauritanian joint committee on Thursday began its work in Nouakchott, the capital of the African nation.
The working group of experts from the Saudi and Mauritanian sides started intensive meetings to discuss the issues on the agenda at the ministerial committee meetings.
The two sides agreed to increase the volume of trade between the two countries and exchange experiences in consumer protection, with an emphasis on the achievement of mutual standards and specifications, and to verify that there are no cases of fraud or exchange of counterfeit products.
In the area of customs and financial cooperation, the two sides agreed on the wording of a bill that ensures the avoidance of double taxation between Saudi Arabia and Mauritania.
On industrial energy and minerals, the two sides discussed an agreement for cooperation in the field of electricity and renewable energy, as well as to exchange experiences and discuss training opportunities in the field of exploiting iron ore and other raw materials.
At the end of the meetings, the committee decided to raise the discussions of the panel to the joint ministerial committee for signature on Friday.


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.