Saudi energy minister says phone has ‘not stopped ringing’

Saudi Arabia's minister of commerce and investment, Majid Al-Qassabi, right, speaks as Energy Minister Khalid Al-Falih listens on during a press conference on Wednesday in Riyadh. (AFP)
Updated 21 December 2017
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Saudi energy minister says phone has ‘not stopped ringing’

RIYADH: Saudi Energy Minister Khalid Al-Falih on Wednesday quipped his phone had not stopped ringing with calls from investors as the Kingdom ramps up spending to record levels.
He was speaking at a press conference in Riyadh that was also attended by Public Investment Fund (PIF) Managing Director Yasir Al-Rumayyan, and Commerce and Investment Minister Dr. Majid Al-Qassabi.
The trio fielded questions from reporters on Saudi Arabia’s record budget announced on Tuesday.
They stressed that supporting small and medium-sized enterprises (SMEs) was a main theme of this year’s budget with SR72 billion ($19.2 billion) allocated to the private sector — including SR12 billion for SMEs.
Saudi Arabia plans the highest level of government spending in its history next year, when expenditure will hit more than SR1.1 trillion.
Al-Rumayyan said that small businesses were “the major movers” of the country, and outlined plans to help as many as 400 companies based in the Kingdom to go global.
When asked about the impact of the graft crackdown on the economy, Al-Qassabi said corruption had been rampant for decades and it was necessary to eradicate it.
“The rule of law will follow and I think this will attract many investors,” he said. “We have seen the results, and because of that we now have real competition and all Saudis have a fair chance.”
The energy minister agreed that the move had not impacted foreign investors because “they have not been partners in corruption.”
Foreign investors now are running toward investing in Saudi Arabia, Al-Falih told reporters. “My phone hasn’t stopped ringing because of it. Last week we signed many agreements.”
 


Albania’s president congratulates Saudi Arabia on National Day

Albanian President Ilir Meta meets Saudi Ambassador Abdul Momin bin Mohammed Sharaf in Tirana on Friday. (SPA)
Updated 21 min 9 sec ago
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Albania’s president congratulates Saudi Arabia on National Day

  • Meta expressed heartfelt congratulations to the Kingdom’s leadership, government and people, praising its pioneering role in the service of Islamic and international causes
  • He said the National Day is a glorious and epic memory marking the struggle King Abdul Aziz

JEDDAH: The President of Albania Ilir Meta congratulated King Salman on the occasion of the 88th Saudi National Day. This came during the ceremony held by the Saudi Embassy in the Albanian capital of Tirana, in the presence of senior officials, heads of diplomatic missions and regional and international organizations in Albania.

Meta expressed heartfelt congratulations to the Kingdom’s leadership, government and people, praising its pioneering role in the service of Islamic and international causes.

Saudi Ambassador to Albania Abdul Momin bin Mohammed Sharaf also congratulated King Salman and Crown Prince Mohammed bin Salman on this day. 

He said the National Day is a glorious and epic memory marking the struggle King Abdul Aziz and his men went through to build a modern state racing against time to present the best achievements and accomplishments. The accomplishments continued during the reign of his sons right up to the present day with the development and prosperity the Kingdom is witnessing under King Salman’s reign.

The ceremony featured documentaries about the unification of  the Kingdom and the construction phases, and there were publications about the history of the Kingdom and its efforts in serving the Two Holy Mosques and pilgrims.