Saudi Shura Council Calls for Govt Expenditure Efficiency Index

Ongoing works at Masar - one of the most qualitative development projects in Makkah. (Asharq Al-Awsat)
Ongoing works at Masar - one of the most qualitative development projects in Makkah. (Asharq Al-Awsat)
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Saudi Shura Council Calls for Govt Expenditure Efficiency Index

Ongoing works at Masar - one of the most qualitative development projects in Makkah. (Asharq Al-Awsat)
Ongoing works at Masar - one of the most qualitative development projects in Makkah. (Asharq Al-Awsat)

The Saudi Shura Council asked the Expenditure Efficiency and Projects Authority to work with the National Center for Performance Measurement (Adaa) to study the inclusion of the Expenditure Efficiency Index within the government entity’s performance indicators.

During its 24th regular session on Monday, the Council asked the authority to prepare an integrated study in order to identify all gaps and ensure efficient government spending in all projects.

Speaker Dr. Abdullah Al-Sheikh chaired the session during which the members discussed the recommendations presented by the Council’s financial committee.

In this regard, Shura Council member, Eng. Ali Al-Qarni, told Asharq Al-Awsat that the new move aimed at improving the effectiveness of expenditures in the government to achieve the objectives of the financial budget through the optimal use of state resources.

He added that this step would help attain the best service and the highest quality in return for the generous spending provided by the government.

According to Al-Qarni, achieving expenditure efficiency was one of the important strategic pillars to reach financial balance through a body that works to supervise and support government agencies to enable them to develop their initiatives and remove obstacles hindering their implementation.

The body will also propose the necessary legislation, tools, regulations and frameworks to ensure sustainability through practical strategies and methodologies according to the best international practices.

Achieving spending efficiency will have an economic and developmental impact on government spending especially in government and technology procurement, digital transformation and the initiatives of Vision 2030, the Shura Council member said.



Chip Powerhouse Taiwan Calls for Economic Partnership Deal with EU

 Taiwan President Lai Ching-te speaks at the annual Taiwan-EU investment forum in Taipei, Taiwan November 18, 2024. (Reuters)
Taiwan President Lai Ching-te speaks at the annual Taiwan-EU investment forum in Taipei, Taiwan November 18, 2024. (Reuters)
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Chip Powerhouse Taiwan Calls for Economic Partnership Deal with EU

 Taiwan President Lai Ching-te speaks at the annual Taiwan-EU investment forum in Taipei, Taiwan November 18, 2024. (Reuters)
Taiwan President Lai Ching-te speaks at the annual Taiwan-EU investment forum in Taipei, Taiwan November 18, 2024. (Reuters)

Taiwan President Lai Ching-te called on Monday for the signing of an economic partnership agreement with the European Union, saying it would boost cooperation in semiconductors and that as democracies the two sides should be working together.

Taiwan has pushed for the signing of investment and trade deals with the EU, in what would be politically significant for Taiwan given its diplomatic isolation and general exclusion from most global bodies and agreements.

For its part, the EU has been courting Taiwan as a "like-minded" partner under the European Chips Act to encourage more semiconductor production in Europe and lessen dependence on Asia, despite the lack of formal ties with the Chinese-claimed island.

Speaking at a Taiwan-EU investment forum in Taipei, Lai said that facing the threat of expanding authoritarianism, Taiwan and the EU must form a "strong democratic umbrella" and build secure supply chains for global democracies.

"Looking to the future, Taiwan hopes to take an innovative approach towards the signing of an economic partnership agreement with the EU," he said.

Such an agreement would set a sound institutional basis for further cooperation in fields such as semiconductors and AI, Lai added.

"This would not only make both our economies more resilient and secure, but also ensure the stable operation of global supply chains."

Taiwanese investment in EU has been anchored by Taiwan Semiconductor Manufacturing Co (TSMC), which in August launched a major new chip plant in Dresden, Germany, expected to be a key supplier to European industry and automakers.

Maria Martin-Prat, deputy head of the European Commission's directorate general for trade, made no mention of signing such a deal with Taiwan in a video message to the investment event, though she did praise bilateral relations.

"Taiwan, a vibrant democracy with an open economy, is a trusted partner for us to promote our economic security," she said.

Taiwan has few free trade agreements, though last year it signed an Enhanced Trade Partnership with Britain and has applied to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, or CPTPP.