RIYADH: Saudi Arabia’s hosting of the 15th session of the G20 leaders’ summit and its presidency of the group confirm Kingdom’s leading role globally, according to Saudi Investment Minister Khalid Al-Falih.
Al-Falih made his comments at a meeting of the G20 Trade and Investment Working Group on Thursday that addressed pressing global trade issues including the Riyadh initiative for the future of the World Trade Organization (WTO).
The minister said that Saudi Arabia has initiated a number of policies to enhance cooperation in trade and investment, including supporting a multilateral trading system, as well as promoting economic diversification and cross-border investment flows.
“The G20 member states and the countries known for best practices — including the encouragement of competitiveness between micro, small and medium enterprises and the maximization of benefit from special economic zones and trade — have participated in economic diversification and the promotion of economic empowerment for all, including youth and women,” he said.
The minister revealed that the working group has established procedures to support international trade and investment in response to the COVID-19 pandemic: “The G20 states dedicated $11 trillion to protect and support the global economy from the repercussions of COVID-19,” he said, citing an historical initiative agreed in April this year to suspend the debt payments of 73 countries.
The Trade and Investment Working Group discussed foreign direct investment and ways that developing and least-developed countries can attract investment.
Al-Falaih also spoke about Saudi Arabia’s focus on three critical areas: Empowering people by creating conditions that enable them to live in dignity; preserving the planet by enhancing joint efforts to protect global resources; and adopting bold long-term strategies to share the benefits of innovation and technological progress.
Saudi Arabia’s G20 presidency confirms its global importance: Saudi investment minister
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Saudi Arabia’s G20 presidency confirms its global importance: Saudi investment minister
Saudi Arabia announces new financial support to the Yemeni government
RIYADH: Saudi Ambassador to Yemen and Supervisor of the Saudi Program for the Development and Reconstruction of Yemen Mohammed Al-Jaber announced that the Kingdom, under the directives of its leadership, has provided new support to the Yemeni government's budget, aimed at paying the salaries of state employees in all sectors.
In a post on X, Al-Jaber stated that this support complements a package of development projects and initiatives, amounting to SR1.9 billion, announced on Wednesday. The package includes provision of necessary petroleum derivatives to operate power plants, which will contribute to improving the living standards of people in Yemen and alleviating daily burdens on them.
Al-Jaber’s post emphasized, in particular, that all salaries of military and security forces linked to the the higher military committee linked to the Saudi led Coalition will be paid as of Sunday.
The post is likely relate to Several Media reports which have suggested that disgraced former Southern Transitional Council (STC) chief Aidaroos Al Zubaidi — who has now fled Yemen — was taking advantage of military personnel and withholding salaries as means of pressure. Al-Zubaidi is wanted by the Yemeni government for acts of high treason and corruption.
The ambassador emphasized that these steps come within the framework of supporting the Yemeni government's efforts to implement the economic reform program, which aims to achieve financial and economic stability and enhance the state's ability to meet its basic obligations.
