Saudi Arabia delegation head to global renewable energy meeting

A solar plant north of Riyadh. Saudi Arabia's delegation will attend the global renewable energy meeting in Abu Dhabi this week. (AFP file photo)
Updated 08 January 2019
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Saudi Arabia delegation head to global renewable energy meeting

  • The Cabinet also approved that the Saudi Arabian Monetary Agency (SAMA) to operate, monitor and supervise payment and settlement systems in the Kingdom

JEDDAH: The Cabinet, chaired by King Salman, on Tuesday approved the Kingdom’s participation in the 9th session of the General Assembly of the International Renewable Energy Agency (IRENA) to be held on Jan. 10-13 in Abu Dhabi. King Abdullah City for Atomic and Renewable Energy (KACARE) and the Office of Renewable Energy Projects Development at the Ministry of Energy, Industry and Mineral Resources will represent Saudi Arabia.
KACARE President Dr. Khalid bin Saleh Al-Sultan will lead the Saudi delegation. The Kingdom joined IRENA on Jan. 29, 2012, and regularly contributes to its various projects especially the Atlas Global Project for Renewable Energy Sources.
The Cabinet reviewed the latest regional and international development and highlighted the Kingdom’s efforts to ensure regional and global peace. The meeting also discussed the current situation in Yemen and the Kingdom’s role in supporting the legitimate government of the war-torn country.
The Cabinet condemned the actions of the Iranian-backed Houthi militia and its violation of the Stockholm agreement.
It deplored the flagrant violation of international laws committed by the Houthis and the way the group was disseminating false information about the ongoing humanitarian crisis in Yemen.
The Cabinet also condemned the Houthis for disrupting relief efforts and looting aid material and funds provided by donor countries and relief organizations in areas under their control.
In a statement issued to the Saudi Press Agency, Media Minister Turki bin Abdullah Al-Shabanah said the Cabinet appreciated the UN Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) for recognizing the humanitarian efforts made by the Kingdom.
The Cabinet also approved memorandums of understanding with different friendly countries to boost cooperation in various sectors.
It also approved that in the first phase of its establishment, the Nuclear and Radiological Control Authority shall follow international standards and procedures. The guiding standards of the International Atomic Energy Agency shall serve as the minimum benchmark.
The Cabinet also approved that the Saudi Arabian Monetary Agency (SAMA) to operate, monitor and supervise payment and settlement systems in the Kingdom and issue rules, instructions and licenses according to the standards applied by the SAMA in this regard.
The Cabinet also approved various appointments and regulations of various government agencies to ensure their smooth functioning.


KSA unveils seven principles to raise investment

Updated 54 sec ago
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KSA unveils seven principles to raise investment

  • The rapid pace of economic transformation in the coming years is opening exciting investment opportunities
JEDDAH: Saudi Arabia has unveiled seven investment principles, issued by royal decree and based on international best practice, that will support the development of a competitive investment environment in the Kingdom.
“The rapid pace of economic transformation in the coming years is opening exciting investment opportunities, both in Saudi — a G20 economy opening up to international businesses — and in the broader Middle East,” said Ibrahim Al-Omar, governor of the Saudi Arabian General Investment Authority (SAGIA).
The investment principles are: Ensure equality between Saudi and foreign investors; ensure protection of investments; enable sustainability of investment; provide access to equal investment incentives; implement social and environmental standards and ensure investor compliance with Saudi health, safety and environmental regulations; facilitate access procedures for foreign workers and their families; and ensure a solid transfer of knowledge, technology and enhancement of local human capital.