Custodian of the Two Holy Mosques Chairs Cabinet’s Session

Riyadh, The Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud chaired the Cabinet's session at Al-Yamamah Palace in Riyadh on Tuesday afternoon.

At the outset of the session, the Cabinet stressed that the Kingdom's solidarity with the Republic of the Sudan in confronting current economic challenges reflects its firm positions under the leadership of the Custodian of the Two Holy Mosques with sisterly countries and its keenness on their security and stability, appreciating in this regard the King's emphasis that Sudan's security and stability is for the Kingdom's security and stability, and his sending a ministerial delegation to strengthen economic relations and increase the trade exchange between the two countries.

The Minister of Media Turki bin Abdullah Al-Shabanah said in a statement to Saudi Press Agency (SPA) that the Cabinet commended His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Vice President of the Council of Ministers, and President of the Council for Economic Affairs and Development's inauguration of the National Industrial Development and Logistics Program. The Program is considered the most important and largest of the thirteen executive programs of the Kingdom's Vision 2030 aiming to transform the Kingdom into a leading industrial power and a global logistics platform, achieve unprecedented growth and integration between four major sectors of the Kingdom's economy including industry, mining, energy and logistics, and include more than 330 initiatives. It aims, by 2030, to increase the contribution of its four sectors in the Gross Domestic Product (GDP) to 1.2 trillion riyals, stimulate investments worth more than 1.7 trillion riyals, increase non-oil exports to more than one trillion riyals, and create 1.6 million new jobs.

The Cabinet welcomed the signing of a Memorandum of Understanding by the Kingdom of Saudi Arabia and the World Economic Forum in Davos, Switzerland, aiming at setting a framework for cooperation in various aspects and partnership with the Center being managed by the Forum and specialized in the future industry.

Source: Saudi Press Agency