Saudi plans to overcome challenges welcomed

Updated 10 January 2016

Saudi plans to overcome challenges welcomed

RIYADH: The Kingdom’s domestic and foreign policies outlined this week to meet economic and political challenges were welcomed by a broad spectrum of citizens, expatriates and experts on Friday.

The priorities of the government were unveiled by Deputy Crown Prince Mohammed bin Salman, second deputy premier and defense minister, in a wide-ranging interview published by The Economist magazine on Thursday.
Saudi Arabia’s plans for its economy amid dropping oil prices and tackling conflicts in the Middle East, including its gains to restore the legitimate government in Yemen, made headlines in the Kingdom and abroad, including on social networking sites.
The deputy crown prince had ruled out a war with Iran because it would be “catastrophic”; spelled out plans to diversify state income with various measures including the possibility of certain taxes and making Saudi Aramco public and launching job creation initiatives for citizens.
Mosad Al-Zayani, a Dubai-based Saudi journalist, said the Kingdom’s approach to Iran showed it was committed to stability in the region. He welcomed the economic initiatives outlined, including the move to shun dependence on oil revenues and the proposed Aramco privatization.

Mohsin Sheikh Al-Hassan, an author and public relations expert, praised the government for not wanting a war with Iran, but said Tehran must be “taught a lesson” for its destabilizing tactics with a boycott of its products.
He said the Kingdom’s exports stood at SR400 million to Tehran, whereas its imports amounted to SR685 million. “This has to be stopped because we can import these Iranian goods from other friendly countries,” he said.
Zakir Aazmi, an Indian expatriate and author, praised the deputy crown prince for dealing with every important policy area of the government, which he said reflects his “dynamic, visionary and energetic leadership.”
Naif Al-Rashid said the deputy crown prince had outlined initiatives that would ensure the country can effectively face up to political, social and economic challenges. “It is good that Aramco, linchpin of the oil market, goes public,” he said.
Seyed Hamid Moulana, a senior business executive, said it was clear that the government had an answer to all obstacles, including Iran’s “unnecessary” attempts to create tension in the region, and the fall in oil prices. He said he was “overwhelmed” by the analysis provided by the deputy crown prince.
In the interview, which was also translated into Arabic, the deputy crown prince had, in his capacity as head of the newly formed Council of Economic and Development Affairs, said the country was not facing an economic crisis.


Saudi Cabinet voices support for Cyprus

King Salman chairs the Cabinet session on Tuesday. The meeting reviewed the Kingdom’s economic progress. (SPA)
Updated 22 January 2020

Saudi Cabinet voices support for Cyprus

  • Kingdom calls for security to be maintained in the region

RIYADH: Saudi Arabia has voiced its support for Cyprus’ territorial sovereignty amid growing tensions following the discovery of oil and gas reserves in the eastern Mediterranean.

The Saudi Cabinet, chaired by King Salman, on Tuesday said it was watching developments in the eastern Mediterranean “with great interest,” and called for security and stability to be maintained in the region.
The Cabinet also reviewed the Kingdom’s progress among 190 economies in the World Bank’s Women, Business and the Law 2020 report, which placed it first among GCC countries and second in the Arab world on legislative reforms relating to women.
Saudi Arabia’s Vision 2030 program supports the implementation of reforms that enhance women’s role in economic development, raising the Kingdom’s competitiveness regionally and globally.
Minister of Media Turki bin Abdullah Al-Shabanah said the Cabinet reviewed several reports on developments in regional and international arenas.
The Cabinet reiterated the Kingdom’s assertion during the fourth session of the Arab Parliament in Cairo that its policy is based on the principles of peaceful coexistence and good neighborliness, full respect for the sovereignty and independence of states, noninterference in their internal affairs, and its belief that these principles are capable of resolving all conflicts, foremost the Arab-Israeli conflict.

HIGHLIGHT

The Cabinet reviewed efforts to promote political solutions to crises in Syria, Yemen, Libya and Sudan, calling on all to take action to address destabilizing foreign threats and interventions.

The Cabinet also reviewed efforts to promote political solutions to crises in Syria, Yemen, Libya and Sudan, calling on all to take action to address destabilizing foreign threats and interventions and to “move forward toward the aspirations of security, stability and development of Arab countries and their peoples.”
On regional affairs, the Cabinet condemned an attack on a military site in Niger, the bombing of a security checkpoint and a tax collection center in Somalia, and the terrorist strike by Houthi militia on a mosque in the Marib governorate, which resulted in dozens of deaths and injuries.
The Cabinet session also authorized the minister of foreign affairs or his deputy to sign a draft protocol on establishing diplomatic relations between Saudi Arabia and Zimbabwe.
An agreement on social development between the the Kingdom and Tunisia was also approved along with a memorandum of understanding for scientific and technical cooperation with Spain.
The Cabinet also approved an agreement for scientific and geological cooperation between the Saudi Geological Survey and the Russian State Geological Company.