Road accident deaths drop by 50% in Saudi Arabia    SR 3.95 million fines for 3 employees of a company and 6-month jail for one for violating Capital Market Law    Qassim emir launches 52 health projects costing a total of SR456 million    BD and INS partner to elevate standards of infusion care in MENAT    Dubai Design Week launches its 10th edition, celebrating creativity and innovation    GASTAT: Passengers of public transport bus and train soar 176% and 33% respectively in 2023    Fakeeh Care Group reports 9M-2024 net profit of SR195.3 million, up 49% y-o-y driven by solid revenue growth and robust profitability    Italy's 'Libra' to arrive in Albania with just eight migrants on board    South Africa shuts border crossing with Mozambique over poll unrest    French families sue TikTok over harmful content that allegedly led to suicides    Harris tells supporters 'never give up' and urges peaceful transfer of power    HRT does not impact life expectancy — UK health body    Liam Payne's body to be flown back to the UK    Suspect arrested for banking fraud totaling SR493 million as Nazaha pursues corruption charges    Arab leaders and heads of state congratulate US President-elect Donald Trump    Neymar suffers muscle tear, out for 4-6 weeks    Crown Prince hails Saudi medical team that performed world's first fully robotic heart transplant    Al Nassr secures 5-1 victory over Al Ain to edge closer to knockout stage    Al Ahli extends perfect start with 5-1 victory over Al Shorta    Mitrovic's hat-trick leads Al Hilal to 3-0 victory over Esteghlal    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Muted Eid celebrations for millions of Nigerian Muslims    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Positive ratings of agencies reflects effectiveness of economic reforms: Cabinet
Published in The Saudi Gazette on 20 - 09 - 2022

The Cabinet session, chaired by Custodian of the Two Holy Mosques King Salman on Tuesday afternoon at Al-Salam Palace here, praised the positive assessments of the credit rating agencies on Saudi Arabia's economy, calling it a reflection of the effectiveness of the economic reforms taken by the government within the framework of the Fiscal Sustainability Program,
The program focuses on developing the medium-term fiscal planning mechanism to sustain the public finances and achieve a balanced budget, while maintaining economic growth rates via diversifying revenue sources, raising the efficiency of government spending, and stimulating the private sector.
The Cabinet also commended the outcomes of the 2nd edition of the Global AI Summit, including the signing of 40 agreements and memorandums of understanding between the public and private sectors from Saudi Arabia and abroad, as well as the announcement of eight local and international initiatives to enhance international cooperation.
They stated that this reflects Saudi Arabia's keenness to benefit from this vital sector to achieve development and become a leading global model in building knowledge economies to serve present and future generations and achieve the objectives of the Kingdom's Vision 2030.
The Cabinet welcomed the establishment of the headquarters of the Digital Cooperation Organization in Riyadh, expressing Saudi Arabia's keenness to support all initiatives in this field, and all efforts that contribute to supporting innovation, youth, women, and entrepreneurs, and promote investment in the digital economy in accordance with national plans.
At the outset of the session, the Cabinet was briefed on the content of the recent talks and meetings that took place between Saudi Arabia and a number of countries, including the two letters received by Custodian of the Two Holy Mosques and the Crown Prince from the Emir of Kuwait and the President of Nigeria.
This is in addition to the content of the meetings that took place between the Crown Prince, the Prime Minister of Kuwait, and the President of the European Council. The Cabinet hailed the relations that bind Saudi Arabia with those countries and peoples and everyone's keenness to develop and strengthen the relations in various fields.
The Cabinet then reviewed a number of current regional and global issues, reiterating the content of Saudi Arabia's delivered speech at the Seventh Congress of the Leaders of World and Traditional Religions held in Kazakhstan. Saudi Arabia affirmed its support for international efforts to combat extremism and highlighted its effective contribution to promoting communication between civilizations and cultures, through the lofty Islamic message, which is based on peace, justice, tolerance and moderation.
In a statement to Saudi Press Agency (SPA), Acting Minister of Media Dr. Majed Al-Qasabi said that the Cabinet addressed a number of reports on regional and international conferences and forums hosted by Saudi Arabia during the week, where holding these events comes as a part of its efforts to keep pace with developments, contribute to facing challenges, investing opportunities and utilizing potentials and energies to achieve mutual benefits and desired goals and aspirations.
On the occasion of the 92nd Saudi National Day, which falls this year on Friday, Sept. 23, the Cabinet thanked Allah Almighty for honoring this country with serving the Two Holy Mosques and for its dignity, empowerment, noble values, and loyal people, affirming the keenness to move forward in strengthening the process of building and progress, and consolidate its status and leadership among the nations of the world.
The Cabinet authorized the Minister of Foreign Affairs to negotiate with the Nepalese and the Bolivian sides on two draft memoranda of understanding regarding political consultations between the Ministry of Foreign Affairs of Saudi Arabia and each of the Ministry of Foreign Affairs of Nepal and the Ministry of Foreign Affairs of Bolivia.
It approved the establishment of diplomatic relations between Saudi Arabia and the Commonwealth of The Bahamas at the level of an ambassador (non-resident), and authorized the Minister of Foreign Affairs to sign the necessary draft protocol.
The Cabinet authorized the Minister of Culture to discuss with the South African side a draft memorandum of understanding for cooperation in the fields of culture and arts between the Ministry of Culture of Saudi Arabia and the Ministry of Sport, Arts and Culture of the Republic of South Africa.
It further authorized the Minister of Culture to discuss with the Mexican side a draft memorandum of understanding for cooperation in the cultural field between the Ministry of Culture of Saudi Arabia and the Ministry of Culture of Mexico.
The Cabinet authorized the Minister of Industry and Mineral Resources to discuss with the Australian side a draft memorandum of understanding between the Ministry of Industry and Mineral Resources of Saudi Arabia and the Ministry of Resources and Water of Australia to cooperate in the field of mineral resources.
It approved the transformation of Projects Management Office of Jeddah Governorate into a body called (Jeddah Governorate Development Authority), and the Authority's Board of Directors is chaired by the Crown Prince, and the membership of the Governor of Makkah Region, the Deputy Governor of Makkah Region, the Minister of Culture, the Governor of Jeddah, the Minister of Commerce, the Minister of Tourism, the Governor of the Public Investment Fund, Eng. Ibrahim Bin Mohammed Al-Sultan, and the Mayor of Jeddah Governorate.
It also approved the appointment of Princess Sarah Bint Musaed Bin Abdulaziz Al Saud, Princess Nouf Bint Mohammed Bin Abdullah Al Saud, Dr. Huda Bint Mohammed Al-Amil and Dr. Ilham Bint Mansour Al-Dakhil as members of the Family Affairs Council as specialists in children, women, and elderly affairs. — SPA


Clic here to read the story from its source.