The Saudi government stressed on Tuesday its agreement with Egypt on several regional and international issues.
Custodian of the Two Holy Mosques King Salman bin Abdulaziz chaired the cabinet meeting that was held in Riyadh.
The cabinet underscored the ongoing coordination between Riyadh and Cairo in confronting challenges facing the region.
The coordination stems from their pivotal standing and responsibility towards the security and stability of the region.
The government welcomed in this regard the outcomes of the meeting of the Saudi-Egyptian joint follow-up and political consultation committee that was held in Riyadh last week.
The meeting underlined the keenness of the Kingdom and Egypt in bolstering bilateral cooperation in all fields.
King Salman briefed the cabinet on the message he received from Crown Prince of Kuwait Sheikh Mishal al-Ahmad al-Jaber Al Sabah that tackled the bilateral relations between their countries and ways to boost them in various fields.
The ministers highlighted the Future Minerals Forum that was recently held in Riyadh, lauding the signing of the 60 agreements and memoranda of understanding.
They underlined the discussions that tackled the future of the mining industry, ways to bolster systems of sustainability and increasing the region’s contribution to strategic supply chains so that it can transform into an integrated hub for producing green minerals.
The ministers stressed Saudi Arabia’s continued efforts in pursuing clean energy with the aim of becoming a global pioneer in the field. They highlighted the Kingdom’s hydrocarbon industry and production of renewable energy and clean hydrogen.
On the local level, the ministers praised the launch of the Events Investment Fund (EIF) that was announced by Prince Mohammed bin Salman, Crown Prince and Prime Minister, on Tuesday.
The fund aims to develop a sustainable infrastructure for the culture, tourism, entertainment and sports sectors across the Kingdom. It will be chaired by Crown Prince Mohammed.
The fund also aims to create strategic partnerships to boost local industry, increase foreign investment and contribute to Vision 2030’s aim of a vibrant society.
EIF will conceptualize, finance and oversee development of more than 35 venues by 2030.
The aim of the fund is to position the Kingdom as the global hub in these various event sectors, to provide world-class sustainable infrastructure for the delivery of an ambitious national events calendar and to create sustainable financial returns to support the Kingdom’s economic diversification efforts.