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Saudi Crown Prince hailed for efforts to develop role of private sector

Economy

Saudi Crown Prince hailed for efforts to develop role of private sector

Saudi Crown Prince hailed for efforts to develop role of private sector

News Desk

The Custodian of the Two Holy Mosques King Salman praised the promising figures and indicators of the State’s General Budget for the Fiscal Year 1442/1443H (2021) during the Cabinet meeting on Tuesday.

The King thanked Allah Almighty for the good resources enjoyed by this blessed country for the promising budget while chairing the Cabinet’s virtual session. He said the budget reflected the government’s endeavors to continue strengthening the march of economic growth and comprehensive development in the Kingdom.

The Custodian of the Two Holy Mosques reiterated that this budget gives priority to protecting the health and safety of citizens and expatriates in continuing the efforts exerted to curb the implications of coronavirus pandemic on the economy.

It also stimulates economic growth and development of services, implementing housing programs and development projects which provide more job opportunities for citizens, raising the efficiency of government spending, paying attention to social protection, reducing money depletion and fighting corruption.

The Cabinet commended Crown Prince’s speech, following the announcement of the State’s General Budget, which affirmed the importance of moving forward towards consolidating the gains achieved since the approval of the Kingdom’s Vision 2030 and moving towards further development and progress in various fields as well as the budget’s priorities.

The Cabinet also hailed the Crown Prince’s gesture of continuing to develop the role of the private sector, developing promising and new sectors, implementing programs and objectives of the vision, supporting the local content and the Kingdom’s contributions to maintain the stability of the international energy markets, strengthening the role of the G20 in addressing economic crises and mobilizing resources to fund programs in order to address the pandemic.

The Custodian of the Two Holy Mosques briefed the Cabinet on a telephone call with Kuwait Emir Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah. He also briefed the Cabinet on a telephone call with US President Donald Trump, which reviewed bilateral strategic relations between the two countries and discussed the latest developments in the region.

The Cabinet welcomed the leaders of the Gulf Cooperation Council (GCC), to take part in the 41st Session of the GCC Supreme Council in AlUla Governorate, Saudi Arabia, next Tuesday, wishing the summit success to enhance joint action and expand cooperation and integration among the member states in all fields to achieve the aspirations and hopes of the people of the GCC countries.

The Cabinet addressed the first meeting of the Saudi Bahraini Coordination Council, which was held under the chairmanship of the Crown Prince and the Bahraini Crown Prince. The Cabinet was briefed on the outcomes of the meeting, citing the approval of the regulatory measures of the Council as well as the formation of its sub-committees.

The Cabinet confirmed Saudi Arabia’s interest in pushing the bilateral relations with Bahrain to more inclusive horizons and developing them in all fields upon a constitutional systematic and sustainable action that achieves the joint interests designed to meet the aspirations of the two countries leaderships and peoples.

The Cabinet tackled the outcome of the Joint Saudi-Russian Committee for commercial, economic, scientific and technological cooperation during which the two sides underscored the importance of the Saudi Russian high-level strategic framework as well as the continuation of work to expand and enhance cooperation in a number of fields to upgrade bilateral ties between the two countries and facilitate investments in joint fields covering a wide range of industries, joint production of high-tech products.

The two sides reiterated their commitment to the cooperation charter and OPEC and OPEC+ declaration in support of the world market stability.

The Cabinet paid tribute to Saudi Aramco on the new oil and gas giant discoveries in four sites in the Kingdom, extending thanks to the Ministry of Energy and Aramco for their strenuous efforts in the field of energy excavation and production in support of the economic diversification of the economy.

The Cabinet reviewed the latest developments of the coronavirus pandemic at the local and international levels, as well as the proactive measures taken to preserve the safety of citizens and expatriates and reduce the chances of the new strain of virus from reaching the Kingdom.

The Cabinet reviewed the vaccination campaign against COVID-19, which is the largest of its kind in the history of the Kingdom, spurred by the support of the Custodian of the Two Holy Mosques and the Crown Prince. The vaccination campaign comes as a continuation of the efforts and measures taken by the Kingdom in addressing the pandemic and providing a safe and internationally approved vaccine for all in record time.

The Cabinet reviewed a number of issues and the latest developments at the regional and international arenas, reiterating the Kingdom’s welcome of the implementation of the Riyadh Agreement by the Yemeni parties represented by the legitimate government and the Southern Transitional Council.

The Kingdom also welcomed announcement about the formation of a Yemeni government of political competencies. The Cabinet considered the implementation the Riyadh Agreement as an important step for achieving a political solution and ending the Yemeni crisis, stressing the continuation of efforts to support Yemen in order to achieve its security, stability and prosperity.

The Cabinet also reiterated the Kingdom’s call for allied and friendly countries, and financial and international institutions to urgently respond to Sudan’s needs, and start exempting Sudan from its debts. The Kingdom welcomed the announcement by the US administration regarding the removal of Sudan from the list of state sponsors of terrorism, which the Kingdom has always aspired to and has made efforts to get it achieved. The Kingdom affirmed the continuation to provide all possible means of support to ensure the security, development and prosperity of Sudan’s people.

The Cabinet expressed the Kingdom’s condemnation and denunciation of the terrorist attacks on vital installations, the latest of which was the attack with a booby-trapped boat on a ship intended to transport fuel in Jeddah. The Cabinet stressed that these criminal and sabotage acts target international security in terms of the stability of its navigation, energy supplies, and environmental security, which requires the international community to take practical deterrent measures against all terrorist perpetrators who carry them out.

The Cabinet also expressed the Kingdom’s condemnation of the bombing that targeted a gathering for reciting the Holy Qur’an in Ghazni Province, Afghanistan. The Cabinet also expressed the Kingdom’s condemnation of the terrorist attack that targeted the Green Zone in the Iraqi capital, Baghdad.

The Cabinet reviewed topics on its agenda, including some being co-studied by the Shoura Council. The Cabinet was also briefed on the outcomes reached by the Economic and Development Affairs Council, the Political and Security Affairs Council, the General Committee of the Council of Ministers, and the Cabinet’s Experts Commission with regard to the agenda.

Saudi Press Agency

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