JEDDAH, 22 November 2005 — Saudi Arabia’s new five-year plan, which was approved by the Council of Ministers yesterday, focuses on the empowerment of women, privatization of state-owned corporations, setting up of strategic industries, and the development of mining and tourism sectors.
The Cabinet meeting at Al-Yamamah Palace in Riyadh, chaired by Custodian of the Two Holy Mosques King Abdullah, also expressed its happiness over the approval given by the WTO General Council to Saudi Arabia’s accession to the organization as its 149th member.
The Cabinet emphasized the importance of the WTO membership and urged all economic sectors to meet accession requirements to help the Kingdom compete with other world players and strengthen its economy. Saudi Arabia will become a full member of the World Trade Organization on Dec. 11 and participate in the WTO ministerial council meeting in Hong Kong.
The 8th Five-Year Development Plan (2005-2010), which has been endorsed by the Shoura Council, includes a number of projects and programs that are directly linked with the welfare of citizens and improvement of their living conditions, the Saudi Press Agency reported, quoting Culture and Information Minister Iyad Madani.
“The plan envisages greater participation of women in economic and developmental activities by implementing programs to improve their capabilities and removing obstacles that stand in the way of their wider participation,” Madani said while explaining its salient features.
“Manpower development is the main focus of the new five-year plan as it includes programs for the development of general education, training and skills and expansion of applied sciences and technology,” Madani said.
The plan intends to diversify the Kingdom’s economic base, improve productivity of the national economy and strengthen its competitive capabilities by establishing strategic and downstream industries, expanding the natural gas industry, mining and tourism sectors and information technology, and removing obstacles facing domestic and foreign investments.
The eighth plan also anticipates greater private sector participation in economic and social development, the minister said. “Developing a knowledge-based economy is another thrust of the plan,” he said, adding that it would stress on information and scientific research.
The weekly Cabinet meeting adopted a series of important decisions yesterday. It approved the Civil Aviation Tariff Law, which prevents foreign aircraft from leaving Saudi airports without paying their dues except for those airlines which have their licensed agents in the Kingdom.
King Abdullah earlier briefed the ministers on the outcome of his recent meetings with US Secretary of State Condoleezza Rice, UN Secretary-General Kofi Annan and Arab League Secretary-General Amr Moussa. The talks focused on Palestine, Iraq and UN investigation into the assassination of former Lebanese Prime Minister Rafik Hariri.
While emphasizing the important roles being played by the United Nations and Arab League in strengthening world peace and stability, King Abdullah pledged the Kingdom’s support for their activities for the security, stability and betterment of the region and other parts of the world.
The Cabinet also backed the statement made by the king while inaugurating the headquarters of the International Energy Forum in Riyadh on Saturday. King Abdullah, while reiterating the Kingdom’s readiness to ensure adequate oil supply, urged major consuming countries to cut taxes on petroleum products. The Cabinet meeting hoped that the IEF secretariat would play an effective role in strengthening cooperation and understanding between producers and consumers.
Crown Prince Sultan, who returned to Riyadh on Sunday at the end of an official visit to Egypt, briefed the meeting on his talks with President Hosni Mubarak and senior Egyptian officials on major regional issues and strengthening bilateral ties.
Referring to the Iraqi reconciliation conference in Cairo, the Cabinet hoped that it would help achieve unity among various Iraqi groups, “a basic requirement for the success of the ongoing political process and to ensure the country’s sovereignty and territorial integrity.” The Kingdom also lifted the economic sanctions against Iraq.
King Abdullah thanked the people of Makkah for giving him a warm reception last week and said the Kingdom would leave no stone unturned in the development of the two holy mosques and expanding services for pilgrims.
The Cabinet approved the new electricity law, which aims at improving electricity services in the country and protecting the rights of consumers.
It encourages the private sector to participate in electricity projects, protects investments, ensures adequate power supply and promotes competition.
The Cabinet also appointed Prince Khaled ibn Faisal ibn Turki as undersecretary of the National Guard in the Western region.
