Saudi delegation participates in high-level international audit meeting

Abdallah Al-Mouallimi, Saudi Arabia’s ambassador to the UN, with General Auditing Bureau (GAB) President Hossam bin Abdul Mohsen Al-Anqari. (SPA)
Updated 20 July 2018
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Saudi delegation participates in high-level international audit meeting

  • The Saudi delegation was composed of representatives of the General Auditing Bureau (GAB)
  • The meeting discussed the implementation of the objectives of sustainable development goals

JEDDAH: General Auditing Bureau (GAB) President Hossam bin Abdul Mohsen Al-Anqari led GAB’s delegation to the high-level meeting of the International Organization of Supreme Audit Institutions (INTOSAI), the Saudi Press Agency (SPA) reported.

The meeting was attended by Saudi Arabia’s permanent representative to the UN, Abdallah Al-Mouallimi.

The two-day meeting, organized by the UN Economic and Social Council (ECOSOC) in cooperation with INTOSAI — represented by INTOSAI Development Initiative (IDI), discussed the contributions of supreme audit institutions (SAIs) to the implementation of the objectives of sustainable development goals (SDGs).

The meeting also discussed the promotion of inclusiveness in monitoring processes, opportunities and challenges facing SAIs, and mechanisms for improving discussions, exchanging knowledge and dialogue between SAIs and related parties, and their contributions to achieving the UN 2030 agenda.

GAB also explained its views on the role of SAIs in contributing to implementing SDGs.

During the meeting, GAB reviewed the outputs and guidance of the conference held in May in Riyadh, titled “Implementing UN 2030 SDGs: Challenges of the Preparedness Stage,” in which a large number of UN and World Bank experts participated alongside heads of SAIs.

The conference was the ideal platform for opinion and knowledge exchange on how to best support audit institutions at an international level in preparation for implementing SDGs.

GAB’s participation in the meeting reflects its standing in the international organizations of financial auditing and accounting as well as its role in driving global efforts to achieve the UN SDGs.

GAB demonstrated its continuous efforts in monitoring the implementation of SDGs in INTOSAI member states to achieve the UN Vision 2030 and the aspirations of GAB.

GAB’s participation also reflects the importance of effective partnership between GAB and INTOSAI, represented by IDI.

This partnership contributes to building bridges of international cooperation, exchanging information and experience, and driving growth to achieve the UN 2030 agenda.

On the sidelines of the meeting, Al-Mouallimi praised GAB’s efforts in representing the Kingdom in INTOSAI and preserving public funds and rationalizing its uses.


Crown prince: Saudi investment in India to reach $100bn

Updated 39 min 51 sec ago
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Crown prince: Saudi investment in India to reach $100bn

  • Mohammed bin Salman says value of investments to increase rapidly over next two years
  • Modi praised relations between the two countries after signing cooperation agreements

DUBAI: Crown Prince Mohammed bin Salman said on Wednesday he expects Saudi Arabia’s investments in India will be worth $100 billion in the next two years.

During a press conference with India’s Prime Minister Narendra Modi, the crown prince said the Kingdom had invested $10 billion in technology and small companies in India which had “achieved very remarkable returns.”

Speaking on the second day of hist India visit, and after the signing of five agreements with Modi, the crown prince also said that there were many opportunities for India in Saudi Arabia.

“We expect that the opportunity we are developing in India in many fields will exceed 100 billion dollars over the next two years,” Prince Mohammed said. “We want to work as two governments to ensure these investments and achieve beneficial returns for both countries. 

“We also hope that relations between the Kingdom of Saudi Arabia and India will contribute to providing more opportunities for Indian laborers and manpower to contribute to the future of the Kingdom of Saudi Arabia and building the Kingdom's Vision 2030.”

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The crown prince spoke of the depth and history of relations between the two countries, acknowledging the role Indian labor and businesses had played in the Kingdom’s development.

He also said the economic partnerships were grounded in the two nation’s similar challenges - “extremism, terrorism and the security of the Indian Ocean.”

He said Modi’s visit to the Kingdom in 2016 had achieved investments worth $44 billion in refining and petrochemicals.

The two countries planned to expand India’s oil storage capacity to make India an “important regional center in distributing oil and its products.”

"As a neighbor who guarantees suppying us with energy needs, the Kingdom is considered India's most important partner," Modi said. "We have enhanced our relations through establishing a strategic partnership."

The crown prince and Modi earlier oversaw the signing of agreements in the fields of investment, tourism, housing and information and broadcasting.

It was also announced that the Kingdom would join the International Solar Alliance, a group of countries focussed on improving solar technology.

Prince Mohammed then met a number of CEOs from India's leading businesses.

The crown prince arrived in India after a two-day trip to Pakistan as part of a tour of Asia.

Earlier he attended a ceremonial welcome in New Delhi after landing in the country on Tuesday evening.