13th Saudi-Swiss Joint Economic Committee meeting held in Zurich

The 13th meeting of the Saudi-Swiss Executive Investment Forum was held in Zurich. (SPA)
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Updated 18 January 2023
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13th Saudi-Swiss Joint Economic Committee meeting held in Zurich

  • Agreements signed to launch a hotel management company in the Kingdom and joint venture for precious metals

RIYADH: The 13th meeting of the Saudi-Swiss Joint Economic Committee and the Saudi-Swiss Executive Investment Forum was held in Zurich, Saudi Press Agency reported on Wednesday. 

The meeting was attended by Saudi Investment Minister Khalid Al-Falih, Swiss Confederation President Guy Parmelin, and a number of representatives from both countries’ public and private sectors. 

The meeting examined the two countries’ investment, economic, and trade relations, as well as the business environments in the Kingdom and Switzerland. It also hosted discussions on topics such as innovation, technology, tourism, energy and health. 

Participants emphasized the significance of broadening the scope of cooperation between Saudi Arabia and Switzerland by capitalizing on opportunities in areas of mutual interest. 

The forum saw the signing of an agreement to launch a global company to operate and manage hotels in the Kingdom, an agreement for a joint venture in precious metals, and four memorandums of understanding in tourism, hospitality and health. 

Bilateral meetings were held at the end of the forum between government agencies, companies, and private sector representatives to discuss cooperation, review investment opportunities in the two countries and exchange experiences.

 


Saudi Arabia announces new financial support to the Yemeni government

Updated 16 January 2026
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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.