RIYADH — The Saudi Council of Ministers on Tuesday approved the National Infrastructure Fund Law. Custodian of the Two Holy Mosques King Salman chaired the weekly session of the Cabinet in Riyadh on Tuesday.

The Cabinet considered Saudi Arabia’s support of SR100 million for the Fund for Financing Initiatives of the Islamic Military Counter Terrorism Coalition (IMCTC) as a testament to its approach and commitment to spreading the values of moderation and rejecting violence and extremism. The Council lauded the outcome of the second meeting of the Council of Defense Ministers of the IMCTC, which was held recently in Riyadh.

At the outset of the session, the Cabinet was briefed on the meeting between King Salman and Emir of Kuwait Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah and the talks between the Emir and Crown Prince and Prime Minister Mohammed bin Salman. Both meetings affirmed the strength of relations between the two countries, their joint desire to further enhance cooperation in all fields, as well as coordination and consultation on issues of mutual interest, it was pointed out.

In a statement to the Saudi Press Agency after the session, Minister of Media Salman Al-Dosari said that the Cabinet reviewed the meetings of senior Saudi officials with their counterparts in different countries over the past few days that are intended to continue strengthening the bonds of multilateral cooperation, and enhancing coordination to address global challenges and achieve a more prosperous and secure future.

The Cabinet noted that hosting the 16th session of the Conference of the Parties (COP 16) to the United Nation Convention to Combat Desertification (UNCCD) in Saudi Arabia this December is an important step to strengthen cooperation and to find effective solutions to reduce land degradation and the effects of drought in order to contribute to achieving environmental, economic, and social benefits for the whole world.

The Cabinet approved Saudi Arabia’s accession to the Agreement on Privileges and Immunities of the International Atomic Energy Agency, and the authorization of the minister of foreign affairs or his deputy to complete the necessary legal procedures for the Kingdom's accession to the agreement.

The Council also approved a memorandum of understanding (MoU) between the Saudi Ministry of Islamic Affairs, Call and Guidance and the Islamic Sheikhdom of Montenegro in the field of Islamic affairs. It authorized the minister of industry and mineral resources or his deputy to discuss and sign with the Algerian side an MoU for cooperation in the industrial field between the ministry and the Ministry of Industry and Pharmaceutical Production of Algeria.

The council authorized the minister of industry and mineral resources or his deputy to hold talks and sign with the British side an MoU between the ministry and the Department for Business, Energy, and Industrial Strategy in the United Kingdom for cooperation in the field of biological, cellular, and genetic medicines. It endorsed an MoU between the Saudi Ministry of Industry and Mineral Resources and the Ministry of Energy and Natural Resources of Türkiye for cooperation in the field of mining.

The Council authorized minister of investment or his deputy to hold talks and sign with Trinidad and Tobago an MoU between the two governments aimed at promoting direct investment.

It authorized the CEO of the Saudi Food and Drug Authority (SFDA) or his deputy to discuss and sign with the Chinese side an MoU between the SFDA and the National Medical Products Administration in China aimed at cooperating in the regulation of pharmaceuticals, medical devices, and cosmetic products.

© Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).