Saudi Shoura Council approves economic cities and special zones authority

The council also gave the green light for the Economic Cities and Special Zones Authority to develop a system of regulatory and financial legislation

  
Members of the Saudi advisory Shura Council listen to Saudi Interior Minister Prince Nayaf Bin Abdul Aziz, brother of Saudi King Abdulah, during his presentation on the security situation in the kingdom, in Jeddah July 1, 2007

Members of the Saudi advisory Shura Council listen to Saudi Interior Minister Prince Nayaf Bin Abdul Aziz, brother of Saudi King Abdulah, during his presentation on the security situation in the kingdom, in Jeddah July 1, 2007

REUTERS/Ali Jarekji

Saudi Arabia - The Saudi Shoura Council has given the go-ahead for a project to reorganize the system of cooperative societies in the Kingdom.

During a virtual session headed by the council’s president, Dr. Abdullah Al-Asheikh, delegates also listened to a presentation by the culture, information, tourism, and antiques committee chairman, Dr. Mohammed Al-Hizan, on the annual report of the authority responsible for radio and television.

Members then voted to accept the committee’s recommendation to progress with the process of privatizing the authority.

Dr. Yahya Al-Samaan said the council also gave the green light for the Economic Cities and Special Zones Authority to develop a system of regulatory and financial legislation while putting forward more incentives and initiatives to enhance the competitiveness of cities and special economic areas to attract quality industries and global investors.

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