Saudi Arabia, US Deepen Cooperation in Vital Sectors

The agreements include deals with US aerospace and defense firms Boeing and Raytheon. SPA
The agreements include deals with US aerospace and defense firms Boeing and Raytheon. SPA
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Saudi Arabia, US Deepen Cooperation in Vital Sectors

The agreements include deals with US aerospace and defense firms Boeing and Raytheon. SPA
The agreements include deals with US aerospace and defense firms Boeing and Raytheon. SPA

Saudi Arabia and the United States signed 18 partnership agreements in fields including energy, communications, space and healthcare during a visit by US President Joe Biden.

They include a group of leading American companies, such as Boeing Aerospace, Raytheon Defense Industries, Medtronic and Digital Diagnostics, IKVIA in the healthcare sector, and many other US companies across the energy, tourism, education, manufacturing and textiles sectors.

There were also agreements in clean energy projects, nuclear energy and uranium.

The deals were signed by the Saudi Ministers of Energy, Investment, Communications and Health with their US counterparts.

The agreements align with Saudi Vision 2030, led by Crown Prince Mohammed bin Salman, as it seeks wider investment opportunities in promising sectors that can benefit the peoples of both nations.

The Saudi Space Authority signed the Artemis Accords with the US Space Agency (NASA), which would allow it to undertake the joint exploration of the Moon and Mars in cooperation with the American space agency.

It grants the Kingdom a seat in the international coalition preparing for the civil exploration and use of the Moon, Mars, comets and asteroids for peaceful purposes.

The Ministry of Communications and Information Technology (MCIT) signed a memorandum of cooperation with IBM, a leading digital tech company, to upskill 100,000 young women and men over five years within eight innovative initiatives that can position the Kingdom as a hub for technology and innovation in the Middle East and North Africa region.

MCIT also signed a memorandum of cooperation with the US National Communications and Information Administration (NTIA), which includes cooperation between the two countries on 5G and 6G technologies. The agreement targets accelerating the growth of the digital economy and enhancing the pace of research, development and innovation in the Kingdom's digital ecosystem.

The Saudi and US Ministries of Energy signed a partnership agreement on clean energy, which includes defining areas and projects of cooperation in this sector. They also agreed on cooperation on civil nuclear energy and uranium, while reinforcing the efforts of the two countries in promoting clean energy and climate action.

The Saudi and US ministries of health also signed a memorandum of cooperation on public health, medical sciences and research. The deal aims to support and bolster existing relations in public health among individuals, organizations and institutions.

It also seeks to consolidate joint efforts in addressing public health issues and medical, scientific and research challenges, as well as the exchange of information, expertise and academics.

The memorandum also aims to organize joint training for workers in the health and medical fields, while addressing the proper application of health information systems, research and development and health innovation.



GASTAT: Saudi Industrial Production Index Increases by 3.4% in November 2024

GASTAT publishes the IPI monthly. SPA
GASTAT publishes the IPI monthly. SPA
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GASTAT: Saudi Industrial Production Index Increases by 3.4% in November 2024

GASTAT publishes the IPI monthly. SPA
GASTAT publishes the IPI monthly. SPA

Saudi Arabia’s General Authority for Statistics (GASTAT) said Thursday that the Industrial Production Index (IPI) statistics for November 2024 showed a 3.4% increase compared to the same month of the previous year.

This increase is driven by growth in mining and quarrying, manufacturing, water supply, sewerage, and waste management and remediation activities, GASTAT said.

Furthermore, the sub-index of mining and quarrying activity increased by 1.2%, and the sub-index of manufacturing activity increased by 7.2%.

The sub-index of electricity, gas, steam, and air conditioning supply activity recorded a decrease of 2.1%, and the sub-index of water supply, sewerage and waste management and remediation activities increased by 10.5%.

The IPI by main economic activities increased by 3.8% compared to the same month of the previous year, while the index of non-oil activities also increased by 2.4%.

GASTAT publishes the IPI monthly. It is an economic indicator that reflects the relative changes in the volume of industrial output. It is calculated based on the industrial production survey.