RIYADH — The Saudi Cabinet, chaired by Crown Prince and Prime Minister Mohammed bin Salman in Riyadh on Tuesday, expressed its hope, with regard to the outcome of the Riyadh conference of Wednesday, over setting a timeline for establishing an independent Palestine State. In a statement to the Saudi Press Agency following the session, Minister of Media Salman Al-Dossary said that the Council of Ministers looked forward to the first high-level meeting of the Global Alliance for the Implementation of the Two-State Solution, to be held in Riyadh on Wednesday, taking practical steps to support international efforts and peace initiatives, and setting a timeline to establish an independent Palestinian state and end the Israeli occupation. The Cabinet stressed the Kingdom's stance expressed at the BRICS Plus 2024 Summit, emphasizing its rejection of escalation in the Mideast region. It highlighted the serious threat posed by the ongoing Israeli aggression on the Gaza Strip to both regional and international security. The Cabinet underscored the importance of an immediate ceasefire, as well as the access of unhindered humanitarian aid, and a serious commitment to achieving lasting peace. The Cabinet reiterated the Kingdom's emphasis, during the International Conference in Support of the Lebanese People and its Sovereignty on the necessity of collective assistance for Lebanon in confronting its current crisis, mitigating its humanitarian consequences, and supporting the institutions of the Lebanese state to carry out their constitutional duties in extending sovereignty over all its territories. The Cabinet appreciated the pledges of donor countries and entities to provide financial and in-kind contributions to support the displaced people and refugees in the Sahel and Lake Chad region during the conference hosted by the Kingdom. The hosting of the conference is part of the Kingdom's keenness to respond to everything that serves humanitarian issues, and provide assistance to affected and afflicted communities around the world. At the outset of the session, the Crown Prince briefed the Cabinet on the content of the phone call he received from the Iraqi Prime Minister Mohammed Shia Al-Sudani, as well as on his meeting with the US Secretary of State Antony Blinken. Al-Dossary said that the Cabinet also discussed the outcome of the Kingdom's recent participation in international meetings, as part of its interest in strengthening its partnerships with various countries and expanding the horizons of cooperation in all fields. This is in a way that serves multilateral work aimed at achieving development and prosperity and addressing global challenges. The Cabinet welcomed the participants of the 8th edition of the Future Investment Initiative conference, which began in Riyadh on Tuesday under the patronage of Custodian of the Two Holy Mosques King Salman. The Cabinet looked forward to the conference contributing to enhancing efforts for economic stability, fair development and combating climate change at the global level, in addition to address issues related to artificial intelligence, innovation and health. The Council highlighted the signing of agreements and memoranda of understanding among 117 entities from the public and private sectors at a total value of about SR104 billion during the Energy Localization Forum, to enhance localization efforts in the energy sector and develop human capital. The Cabinet hailed the outcomes of the Multilateral Industrial Policy Forum, organized by the Ministry of Industry and Mineral Resources, in partnership with the United Nations Industrial Development Organization (UNIDO). It underlined the discussions about the role of industrial policies in enhancing industrial integration between countries, enabling global supply chains, encouraging entrepreneurship, and adopting modern and emerging technologies. The Council praised the new launches and signing of agreements worth more than SR55 billion during the Global Health Exhibition held in Riyadh, that aims to invest in the latest technologies globally, consolidate means of partnership and international cooperation, localize pharmaceutical industries, and support research and development fields, showcasing the Kingdom's leadership in the health sector. The Cabinet hailed the inaugural Global Corporate Social Responsibility Forum for facilitating the signing of memoranda of understanding and discussions expected to open new horizons for sustainable social development, further enhancing the Kingdom's achievements in this area. Al-Dossary said the Cabinet amended Article 5 of the Judicial Law, so that the Supreme Judicial Council shall consist of a president and 14 members. It endorsed that the National Development Fund; the Ministry of Finance; Ministry of Environment, Water and Agriculture; Ministry Economy and Planning, and the Saudi Central Bank will have membership in the Board of Directors of the Agricultural Development Fund. The Cabinet approved the organizational procedures of the Supreme National Committee for Industry at the Council of Economic and Development Affairs. It authorized minister of commerce and chairman of the Board of Directors of the Small and Medium Enterprises General Authority or his representative to negotiate and sign with the Bahraini, Qatari and Estonian sides regarding draft memoranda of understanding and cooperation between the authority and the Labor Fund of Bahrain, Qatar Development Bank, and the Estonian Business and Innovation Agency. This is aimed at developing the small and medium enterprises sector, fostering start-ups and promoting entrepreneurship.
