Saudi Arabia’s Cabinet Issues 17 Decisions & Treaties
Chaired by King Salman bin Abdulaziz Al Saud, the Saudi Cabinet convened on Tuesday in Riyadh, issuing a series of significant resolutions that will shape various sectors in the Kingdom.
Formation of the Green Initiative Foundation’s Board
The Saudi Cabinet announced the formation of the Board of Trustees for the Green Initiative Foundation. The board will be chaired by the Crown Prince and Prime Minister, including key members such as the Minister of Energy, the Foreign Minister, the Minister of Environment, Water, and Agriculture, the Climate Envoy, and other high-profile figures.
Amendments to the Domestic Hajj Service System
The Cabinet approved modifications to the internal Hajj service system, as detailed in the resolution, emphasizing the government’s commitment to enhancing Hajj experiences.
Saudi-Turkish Investment Collaboration:
A Memorandum of Understanding (MoU) for investment promotion between Saudi Arabia and Turkey was approved, signifying a strengthening of economic ties between the two nations.
Saudi-Indian Bilateral Investment Program
The Cabinet endorsed a framework program for cooperation between the Saudi Ministry of Investment and the Indian National Investment Promotion Agency, aimed at bolstering bilateral investments.
Saudi-Chinese Financial Market Collaboration
The President of the Financial Market Authority was authorized to discuss and sign an MoU with the Chinese Securities Regulatory Commission, focusing on regulatory cooperation in securities and futures contracts.
Universities’ Land and Facilities Leasing
The Cabinet agreed that leasing and investment of lands and facilities under university supervision will follow guidelines approved by the Minister of Education in agreement with the Ministry of Finance and the General Authority for State Properties.
Combating Crime and Money Laundering:
Approvals were granted for agreements with Albania on crime prevention and with Greece for financial investigations cooperation related to money laundering and terrorist financing.
Makkah Agreement for OIC Members on Anti-Corruption:
The President of the National Anti-Corruption Commission was authorized to sign the Makkah Agreement, facilitating cooperation among OIC member states in enforcing anti-corruption laws.
Saudi-Korean Smart Agriculture Cooperation:
An MoU for cooperation in smart agriculture was agreed upon between the Saudi Ministry of Environment, Water, and Agriculture and South Korea’s Ministry of Agriculture and Rural Affairs.
Municipal and Housing Sector Cooperation
The Cabinet approved a model MoU for cooperation in municipal and housing sectors, empowering the Minister of Municipal, Rural Affairs, and Housing to negotiate and sign relevant agreements with counterpart agencies in other countries.
Nuclear Safety and Radiation Protection with Bahrain
The President of the Nuclear and Radiological Regulatory Commission was delegated to discuss and sign an MoU with Bahrain’s Supreme Council for Environment on nuclear safety and radiation protection.
Intellectual Property Collaboration
An MoU between the Saudi Authority for Intellectual Property and the World Intellectual Property Organization was approved, establishing a Saudi trust fund at WIPO.
Saudi-Luxembourg Air Transport Services Agreement:
The Cabinet sanctioned an air transport services agreement with the Grand Duchy of Luxembourg, enhancing connectivity and service quality in air travel.
Saudi-Jordanian Media Cooperation
The Minister of Media was authorized to negotiate and sign an MoU with Jordan on cooperation in various media fields.
New Appointments in Public Institutions
The Cabinet announced key appointments in several governmental bodies, reflecting ongoing efforts to enhance public sector governance and effectiveness.
Extending Citizen Account Program
Recognizing economic changes, the Cabinet extended the Citizen Account Program until the end of 2024, continuing its commitment to support citizens financially.
Saudi-Japanese Clean Energy Initiative Progress
The Council noted significant progress in the Saudi-Japanese “Manar” initiative for clean energy cooperation, demonstrating the Kingdom’s commitment to sustainable energy goals.
The Saudi Cabinet’s decisions mark a significant step in the Kingdom’s journey towards economic diversification, sustainability, and strengthened international partnerships. These resolutions reflect Saudi Arabia’s ongoing commitment to development, innovation, and global collaboration.
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