Saudi Cabinet lauds relations between Kingdom and the US

King Salman chairs the Cabinet meeting on Tuesday at Al-Yamamah Palace in Riyadh. (SPA)
Updated 21 March 2018

Saudi Cabinet lauds relations between Kingdom and the US

RIYADH: The Cabinet looked forward when it met on Tuesday to the results of Crown Prince Mohammed bin Salman’s current official visit to the US and his talks with President Donald Trump and senior officials of the US government.
Chaired by King Salman at Al-Yamamah Palace, the Cabinet lauded the depth of relations between the two friendly countries and their keenness on finding ways to consolidate the ties.
It was also briefed on the results of the official visit paid by Interior Minister Prince Abdulaziz bin Saud bin Naif to Malaysia, Singapore and the Philippines and his discussions with senior officials there on bilateral relations and ways to strengthen them.
The Cabinet reviewed a number of reports on current events and developments in the Arab, regional and international arenas. It welcomed the presidential statement issued by the UN Security Council on the situation in Yemen, which included a strong condemnation of the Iran-backed Houthi militias targeting the Kingdom with ballistic missiles and their deliberate targeting of civilian areas. The statement also praised the Yemen Comprehensive Humanitarian Operation, which was announced by the Saudi-led Arab coalition.
The Cabinet affirmed that the statement reflected the UN’s commitment to solve the conflict in Yemen through political means in accordance with the GCC Initiative, the outputs of the national dialogue and the relevant Security Council resolutions.
It reiterated the Kingdom’s commendation of efforts by the Independent International Commission of Inquiry on Syria in issuing a report documenting the serious violations of human rights there. And it reaffirmed the Kingdom’s steadfast stand with international efforts to resolve the crisis in accordance with the principles of the Geneva Declaration 1 and UN Security Council Resolution No. 2254.
The Cabinet also congratulated President Xi Jinping of China and President Vladimir Putin of Russia on their re-election for new presidential terms, wishing both presidents and their countries steady progress and prosperity.
Locally, the Cabinet praised the opening of Riyadh International Book Fair under the theme “The book is future of transformation,” which embodies the Kingdom’s constant support for culture and intellectuals, and its keenness on the importance of coping with the Saudi Vision 2030.

Green light for crown prince-led Saudi privatization program

Updated 25 April 2018

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.