Saudi Crown Prince Chairs Meeting of Council of Economic and Development Affairs

Prince Mohammed bin Salman, Crown Prince an Prime Minister, during a cabinet meeting in Riyadh on Tuesday. (SPA)
Prince Mohammed bin Salman, Crown Prince an Prime Minister, during a cabinet meeting in Riyadh on Tuesday. (SPA)
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Saudi Crown Prince Chairs Meeting of Council of Economic and Development Affairs

Prince Mohammed bin Salman, Crown Prince an Prime Minister, during a cabinet meeting in Riyadh on Tuesday. (SPA)
Prince Mohammed bin Salman, Crown Prince an Prime Minister, during a cabinet meeting in Riyadh on Tuesday. (SPA)

Prince Mohammed bin Salman, Crown Prince, Prime Minister and Chairman of the Council of Economic and Development Affairs, chaired a meeting for the council on Tuesday.

The council reviewed several economic and development issues, including a presentation submitted by the Ministry of Economy and Planning regarding local and global economic development.

The presentation included details of the most important indicators related to the national economy, especially the growth witnessed by the sectors of the national economy, as well as a large number of other sectors and activities during the past period.

It also reviewed the prospects of the global economy during the coming period and an analysis of the most prominent indicators.

The council discussed the presentation submitted by the Strategic Management Office of the Council regarding the governance of the Kingdom's Vision 2030 and the roles of the supporting agencies.

It reviewed a presentation submitted by the Ministry of Health regarding the latest health developments related to the COVID-19 pandemic and a presentation by the Project Management Office at the Secretariat of the Council regarding the follow-up on decisions and recommendations of the Council during the fourth quarter of the past year 2022.

The council made the necessary decisions and recommendations regarding these issues.



Saudi Arabia, Italy Sign MoU to Strengthen Collaboration in Renewable Energy

The MoU focuses on key areas such as energy transitions and security, renewable energy and electricity interconnection. SPA
The MoU focuses on key areas such as energy transitions and security, renewable energy and electricity interconnection. SPA
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Saudi Arabia, Italy Sign MoU to Strengthen Collaboration in Renewable Energy

The MoU focuses on key areas such as energy transitions and security, renewable energy and electricity interconnection. SPA
The MoU focuses on key areas such as energy transitions and security, renewable energy and electricity interconnection. SPA

Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz has met in Riyadh with Italian Minister of Environment and Energy Security Gilberto Pichetto Fratin to explore avenues for cooperation across various energy sectors.

The two sides signed on Tuesday a memorandum of understanding (MoU) to strengthen collaboration between Saudi Arabia and Italy, serving their shared interests.

The MoU focuses on key areas such as energy transitions and security, renewable energy, electricity interconnection, energy efficiency, geothermal energy, methane emissions reduction, advancing energy storage solutions, petroleum, natural gas, and conventional and transitional fuels.

It also addresses enhancing the stability and reliability of petroleum and natural-gas markets, reducing market volatility, and improving energy supply security and supply chains.
The agreement highlights innovation and technology, such as hydrogen project development, climate-change mitigation solutions, the circular carbon economy, and carbon capture, utilization, and storage. Additionally, it emphasizes digital transformation, cybersecurity, and artificial intelligence in the energy sector while fostering joint initiatives to support engineering and construction projects in energy. These efforts align with the Paris Agreement and the 2030 Agenda for Sustainable Development.