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Saudi Cabinet Approves Formation of Military Industries Authority

Saudi Cabinet Approves Formation of Military Industries Authority

Tuesday, 1 January, 2019 - 13:30
King Salman chairs a cabinet session in Riyadh. (SPA)
Asharq Al-Awsat
The Saudi cabinet approved on Tuesday the formation of the general military industries authority, reported the Saudi Press Agency (SPA).

The cabinet met at the al-Yamamah Palace in Riyadh in a meeting that was chaired by Custodian of the Two Holy Mosques King Salman bin Abdulaziz.

The ministers also approved the arrangements for the establishment of the Saudi space general authority and the general authority for foreign trade.

In addition, King Salman hailed the approval of the 2019 general budget, saying it reflects the drive to continue to support the economy in a way that would achieve sustainable development and financial stability as part of Vision 2030.

It also reflects the Kingdom’s determination to move forward towards economic reform.

Moreover, he said that last week’s cabinet reshuffle stemmed from the keenness to maintain the path of development and modernization that the Kingdom had embarked on.

King Salman welcomed the new ministers to cabinet, wishing them success in their new duties. He also thanked the outgoing ministers for their services.

He then briefed the gatherers of the details of the telephone calls he received last week from Palestinian President Mahmoud Abbas and Afghan President Ashraf Ghani. He also briefed them on the discussions he held with visiting Pakistani President Arif Alvi and Grand Sheikh of al-Azhar Ahmed el-Tayeb.

In a statement to SPA, Information Minister Turki al-Shabanah said that the cabinet hailed the economic reforms that are being spearheaded by Crown Prince Mohammed bin Salman, Deputy Prime Minister and Minister of Defense.

The ministers stressed that the reforms efforts were moving steadily forward in order to diversify the economy, achieve economic stability and financial sustainability, improve living standards for the people and motivate the private sector.

The cabinet then reviewed the latest regional and international developments, including the formation of the Group of Arab and African Coastal States of the Red Sea and the Gulf of Aden.

The body was formed at Saudi Arabia’s proposal.

The cabinet underlined the importance of the establishment of a body that would bolster cooperation between Arab and African countries on the political, economic, cultural, security and environment levels.

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