Politics
Approval of the national general framework and guidelines for foreign direct investment
Crown Prince and Prime Minister Prince Mohammed bin Salman bin Abdulaziz chaired the Cabinet meeting held today in Riyadh.
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Crown Prince and Prime Minister Prince Mohammed bin Salman bin Abdulaziz chaired the Cabinet meeting held today in Riyadh.
At the beginning of the session, the Crown Prince briefed the Cabinet on the contents of his meetings and talks with the leaders of a number of brotherly and friendly countries, and what he focused on regarding aspects of relations between the Kingdom and their countries and opportunities to strengthen them in various fields.
The Cabinet approved – in principle – the national general framework and guidelines for foreign direct investment.
Minister of Information Salman bin Yousef Al-Dossari explained in his statement to the Saudi Press Agency following the session that the Council then reviewed the paths of cooperation and joint work of the Kingdom with the countries of the world, praising in this context the results of the (third) meeting of the Security Coordination Committee emanating from the Saudi-Bahraini Coordination Council, and the initiatives accomplished, and everything that contributes to pushing the established brotherly relations towards new horizons.
Promoting sustainability in education, investment, and innovation
The Cabinet noted the outcomes of the (second) ministerial meeting of the Economic and Investment Committee of the Saudi-Indian Strategic Partnership Council, and the progress made in achieving the common goals of the two friendly countries, especially in the fields of industry, infrastructure, technology, agriculture, food security, climate science, and sustainable transport.
The Council discussed the Kingdom’s overall participation in the G20 meetings held during the past few days, which included highlighting its efforts to promote sustainability in education, investment in innovation and entrepreneurship, in addition to its ongoing contributions to addressing global health challenges.
Call for an Arab-Islamic follow-up summit this month
The Cabinet addressed the developments in the current situation on the regional scene, and the Kingdom’s diligent efforts to communicate with members of the international community to establish peace and security in the region. This is evident in its hosting of the first meeting of the Global Alliance for the Implementation of the Two-State Solution with the participation of (90) countries and regional and international organizations to embody the independent Palestinian state, and the call to hold a joint Arab-Islamic follow-up summit this month to discuss the continuation of the Israeli aggression against the Palestinian territories and the Lebanese Republic.
The Kingdom offers 15 centers for classifying tourist destinations
He explained that the Council affirmed that a political solution is the only way to end the crisis in Sudan, reiterating the call to adhere to and fulfill what was agreed upon in the “Jeddah Declaration” signed on May 11, 2023, and urging the warring parties to cease fire, end the conflict, and facilitate the delivery of humanitarian aid to those affected.
On the domestic front, the Cabinet considered the Kingdom’s advancement of (15) places in the ranking of destinations for international tourist revenues for 2023 compared to 2019, and its leading position in the upward movement of places among the top fifty countries, as confirmation of its international leadership and a continuation of its global achievements in this vital sector.
The Council reviewed the topics on its agenda, including topics that the Shura Council had participated in studying. It also reviewed the conclusions reached by the Council of Political and Security Affairs, the Council of Economic Affairs and Development, the General Committee of the Council of Ministers, and the Council of Ministers’ Experts Committee regarding these topics. The Council concluded the following:
- The Kingdom joined the “Comprehensive Achievement Initiative in the Cement and Concrete Industry,” which was launched on the sidelines of the Conference of the Parties to the United Nations Framework Convention on Climate Change.
- Approval of a memorandum of understanding regarding political consultations between the Ministry of Foreign Affairs of the Kingdom of Saudi Arabia and the Ministry of Foreign Affairs of the Republic of Estonia.
- Approval of an agreement between the Government of the Kingdom of Saudi Arabia and the Government of the State of Qatar to avoid double taxation with respect to taxes on income and to prevent tax evasion and avoidance.
- Authorizing the Minister of Economy and Planning, Chairman of the Board of Directors of the General Authority for Statistics - or his representative - to discuss with the United Nations Children’s Fund (UNICEF) office for the Gulf region in the Kingdom of Saudi Arabia regarding a draft memorandum of understanding between the Authority and the office for cooperation in the field of Multiple Indicator Cluster Surveys, and to sign it.
- Approval of a framework agreement between the Government of the Kingdom of Saudi Arabia and the Government of the United States of America for cooperation in the field of air navigation and the exploration and use of airspace and outer space for peaceful purposes.
- Approval of a memorandum of understanding between the National Center for Meteorology in the Kingdom of Saudi Arabia and the World Meteorological Organization in the field of meteorology.
– Approval – in principle – of the national general framework and guidelines for foreign direct investment.
- Approval of the final accounts of the Nuclear and Radiological Regulatory Authority and the Support and Liquidation Center for a previous fiscal year.
Upgrades:
Approval of promotions to the (fifteenth) rank, as follows:
– Majid bin Ahmed bin Hassan Al-Omar was promoted to the position of (Senior Business Advisor) at the Ministry of Energy.
– Mohammed bin Abdulrahman bin Abdul Latif Al-Qasir was promoted to the position of (Senior Social Service Advisor) at the Ministry of Human Resources and Social Development.
- Abdullah bin Saleh bin Mohammed Al-Dahami was promoted to the position of (Senior Business Advisor) at the Ministry of Human Resources and Social Development.
- The promotion of Engineer Turki bin Al-Humaidi bin Radhi Al-Mufadli Al-Shammari to the position of (Senior Advisor for Roads Engineering) at the Ministry of Transport and Logistics Services.
- Faisal bin Abdullah bin Ibrahim Al Ibrahim was promoted to the position of (Senior Legal Advisor) at the Experts Authority of the Council of Ministers.
The Cabinet also reviewed a number of general topics on its agenda, including annual reports from the Madinah Region Development Authority, the Al-Ahsa Development Authority, the General Authority for the Care of the Grand Mosque and the Prophet’s Mosque, the Saudi Standards, Metrology and Quality Organization, the Zakat, Tax and Customs Authority, the Environment Fund, and the National Center for Waste Management. The Cabinet took the necessary actions regarding these topics.
Politics
The coalition condemns the Aden attack and vows to retaliate against the targeting of the Giants forces
The coalition leadership condemned the terrorist attack on the convoy of a commander of the Giants Forces in Aden, stressing that it will strike with an iron fist anyone who tries to destabilize the Yemeni capital.
The Joint Forces Command of the Coalition to Restore Legitimacy in Yemen strongly condemned the terrorist attack that targeted the convoy of the commander of the Second Brigade of the Giants Forces in the interim capital, Aden. In an official statement, the Command affirmed that these desperate attempts to destabilize security and stability will not go unanswered, emphasizing that it will strike with an iron fist against anyone who seeks to target Aden or undermine the unity of the ranks of those opposing the Houthi project.
Tense security situation in the interim capital
This attack comes amid a complex security situation in Aden, the political and administrative center of the internationally recognized Yemeni government. Despite the significant efforts of local forces, supported by the coalition, to establish security, the city continues to face major security challenges, including sporadic attacks carried out by sleeper cells affiliated with the Houthi group or other terrorist organizations such as al-Qaeda, which seek to exploit any security gaps to sow chaos and weaken state authority.
The importance of the Giants forces in the military landscape
The Giants Brigades, to which the targeted commander belonged, are among the most prominent and powerful military formations in Yemen. They have played a decisive role in numerous battles against the Houthis, particularly in liberating the western coast and strategic areas in the Shabwa and Marib governorates. Thanks to their high level of training and advanced weaponry, these forces represent a cornerstone of the Joint Forces, and targeting their leaders is a direct attempt to undermine their morale and weaken their combat capabilities on the ground.
Potential effects and repercussions of the attack
This attack carries serious implications both locally and regionally. Locally, it aims to portray the government and its forces as incapable of securing the capital, potentially undermining public trust and exacerbating instability. Regionally, the attack is interpreted as a challenge to the Saudi- and UAE-led coalition, demonstrating that destabilizing forces remain active and capable of striking deep within liberated areas. This incident is expected to lead to heightened security measures in Aden and possibly preemptive operations to pursue the terrorist networks responsible for planning and executing the attack, underscoring the coalition's commitment to protecting its partners on the ground and ensuring the security of international navigation near the strategic Bab al-Mandab Strait.
Politics
Saudi support for the operation of 70 power plants in Yemen to enhance stability
Under the guidance of the Saudi leadership, a new agreement to purchase local oil derivatives aims to operate more than 70 Yemeni power plants, boosting the economy and improving the lives of citizens.
Following directives from the Saudi leadership, the Ambassador of the Custodian of the Two Holy Mosques to Yemen and Supervisor of the Saudi Development and Reconstruction Program for Yemen, Mohammed Al Jaber, announced the signing of a significant agreement between the program and the Yemeni Ministry of Electricity and Energy. The agreement stipulates the purchase of petroleum derivatives from the Yemeni company PetroMasila, a strategic step aimed at revitalizing more than 70 power plants across various Yemeni governorates.
This initiative comes within the framework of Saudi Arabia's ongoing support for Yemen, which is suffering from a severe humanitarian and economic crisis as a result of years of conflict. The conflict has destroyed a large part of the infrastructure, most notably the energy sector, causing frequent and prolonged power outages. This situation has directly affected the daily lives of citizens and negatively impacted vital sectors such as health, education, and water, as hospitals, schools, and water pumps rely heavily on a reliable electricity supply.
The new agreement is particularly significant because it not only provides support but also stimulates the local economy by purchasing petroleum products from a national Yemeni company. This measure injects liquidity into the Yemeni economy and strengthens the role of local companies as active partners in the development and reconstruction process, representing a step towards achieving self-sufficiency in the country's energy sector.
On the macroeconomic front, the agreement is expected to have a multifaceted positive impact. By providing the fuel needed to operate power plants, the Yemeni government will be relieved of the burden of spending vast sums of hard currency on fuel imports. This will contribute to supporting monetary and financial stability, curbing the depreciation of the Yemeni rial, and mitigating the inflation that has burdened citizens. Furthermore, a stable electricity supply will positively impact commercial and industrial activity, encouraging the return of investments and the creation of new job opportunities.
This support is part of broader efforts undertaken by the Saudi Development and Reconstruction Program for Yemen since its inception, working to implement projects across various vital sectors to improve living conditions and support social stability. Rehabilitating the electricity sector is not only a step towards improving basic services, but also a cornerstone in building a stable and prosperous future for Yemen, reflecting the Kingdom's unwavering commitment to standing with the Yemeni people in their time of need.
Politics
Japan restarts the world's largest nuclear power plant, Kashiwazaki-Kariwa
For the first time since the 2011 Fukushima disaster, Japan is restarting the Kashiwazaki-Kariwa nuclear power plant, the world's largest, in a strategic move to achieve energy security and carbon neutrality.
In a significant strategic move, Japan announced the restart of the Kashiwazaki-Kariwa nuclear power plant, the world's largest in terms of production capacity, for the first time since the devastating Fukushima disaster in 2011. This decision represents a turning point in Japanese energy policy and reflects the country's pursuit of a delicate balance between energy security, environmental obligations, and public safety concerns.
This move comes after the governor of Niigata Prefecture, where the plant is located, approved the resumption of operations, despite deep public divisions still influenced by the memory of the Fukushima disaster. The restart process will be gradual and limited, with only one of the plant's seven reactors being activated in the first phase, under strict monitoring to ensure the highest safety standards.
Historical background: The shadow of the Fukushima disaster
The significance of this decision cannot be understood without recalling March 11, 2011, when a devastating earthquake followed by a massive tsunami struck the northeastern coast of Japan, causing the cooling systems at the Fukushima Daiichi nuclear power plant to fail and resulting in the meltdown of three reactors. This triple tragedy (earthquake, tsunami, and nuclear disaster) forced Japan to shut down all of its operating nuclear reactors, leading to a radical shift in its energy mix and increasing its near-total dependence on imported fossil fuels to meet its energy needs.
Importance and expected impact
The decision to restart the Kashiwazaki-Kariwa power plant is driven by several pressing factors. Domestically, Japan is seeking to reduce its hefty energy import bill and bolster energy security in the face of global market volatility. The country also faces the growing challenge of meeting rising electricity demand, exacerbated by the expansion of data centers and artificial intelligence.
Internationally, Japan, the world's fifth-largest emitter of carbon dioxide, is committed to achieving carbon neutrality by 2050. The Japanese government considers nuclear power a key component in achieving this ambitious goal, as it provides a stable and low-carbon energy source. Therefore, this move not only impacts Japanese energy policy but also carries significant implications for global efforts to combat climate change and may encourage other countries to reassess the role of nuclear power in their future plans.
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