RIYADH: Mining agreements with Jordan, Gabon, and Zimbabwe were signed off by the Saudi cabinet, and a range of economic deals were rubber-stamped.
Approved during the meeting chaired by Crown Prince Mohammed bin Salman, these deals come as the Kingdom seeks to increase the mining sector’s contribution to gross domestic product to between $70 billion and $80 billion by 2030, up from the current level of $26 billion.
Other agreements include cooperation deals with China on modern transportation, Singapore on halal product quality, and the African Civil Aviation Commission, according to the Saudi Press Agency.
The efforts fit in with Saudi Arabia’s economic diversification plan, which has already witnessed non-oil economic activity contributing 50 percent to the nation’s GDP in 2023.
Furthermore, the Cabinet reviewed a range of general topics, including the annual reports of the Ministry of Tourism and the Cultural Development Fund, and took necessary actions to advance these sectors.
Minister of Information Salman bin Yousef Al-Dosari underscored the discussions, emphasizing ongoing initiatives to enhance infrastructure, improve service quality, develop key sectors, and attract investments. These efforts aim to stimulate national industries and foster sustainable economic growth.
Moreover, the Cabinet discussed finalizing a memorandum of understanding with Greece on communications and information technology between their respective commissions.
Another approved deal was between Saudi Arabia and Singapore to enhance human capital and leadership in their public sectors through cooperative efforts.
Additionally, an MoU on cultural cooperation was finalized between the Ministry of Culture in Saudi Arabia and the Bahrain Authority for Culture and Antiquities.
In addition to these agreements, the Cabinet also cleared financial statements for the past fiscal years of the General Authority for Survey and Geospatial Information, the Digital Government Authority, and Imam Muhammad bin Saud Islamic University.
These meetings were conducted within the framework of strengthening friendship ties and enhancing bilateral and multilateral cooperation across all fields. The focus was particularly on promoting international security and stability, and advancing principles of development, progress, and cultural advancement.
The meeting commended efforts to increase participation of Saudi men and women in development initiatives, enhance integration of the national workforce, and strive toward achieving Vision 2030’s goal of reducing unemployment to 7 percent.
