The reports tabled included that of the Ministry of Foreign Affairs, the Ministry of Economy and Planning, the Saudi Fund For Development (SFD) and the Saudi Post Corporation (SPC).
According to Shoura Council Secretary-General Muhammad Al-Ghamdi, the annual report of the Foreign Ministry was tabled by the council's foreign affairs committee.
During the discussions, the house strongly suggested the ministry should provide adequate security to its diplomats serving abroad.
“More incentives should be given to the diplomats to obtain their optimum services for the good of the country,” Al-Ghamdi said, adding that the members also discussed the predominant role played by the Institute of Diplomatic Studies in developing the skills of the diplomats, who work abroad to project the right image of the country.
During the reading of the annual report of the Saudi Fund For Development, the house commended the activities of the organization in helping developing countries through grants and loans to help various development projects in their respective countries. It also appreciated the organization's efforts to provide opportunities for the private sector, particularly small and medium enterprises.
To reduce risks of capital drain, the house suggested that the SFD should not increase the volume of loans given to developing countries.
The SFD is the Kingdom’s main development financing arm. It started operations in March 1975 and finances development projects in low-income countries through soft loans. At the end of 2005, the capital of the SFD was SR 31 billion ($ 8.64 billion).
Since April 1999, the SFD has been using the “Saudi Exports Program” to finance the credit, surety and insurance operations of Saudi non-oil export commodities. This program also finances operations linked to foreigners (both private and public entities) wishing to import Saudi goods and services.
In a submission made by the committee on economic affairs and energy on the annual report of the Ministry of Economy and Planning, the house felt new proposals to develop the national economy should be made after careful evaluation so that their implementation would benefit both the Kingdom and fellow Gulf Cooperation Council countries. It also said that the ministry should take into consideration global economic trends while forming an economic strategy to identify investment channels for individuals and institutions. The council also heard the submissions made by the council's committee on transport, communications and information technology on the annual report of the SPC for the fiscal year 1431/1432AH.
The SPC covers a postal network of all cities and villages in the Kingdom, with 478 main and 180 branch post offices.
