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Washington: Saudi Arabia’s Openness will Lead the Region to a Promising Future

People attend the Future Investment Initiative (FII) conference in Riyadh, on October 24, 2017. The head of oil giant Saudi Aramco said that a lack of recent investments in the oil sector could lead to a shortage of supplies. Fayez Nureldine / AFP
People attend the Future Investment Initiative (FII) conference in Riyadh, on October 24, 2017. The head of oil giant Saudi Aramco said that a lack of recent investments in the oil sector could lead to a shortage of supplies. Fayez Nureldine / AFP
    Riyadh - Abdul Hadi Habtoor, Shujaa al-Baqmi and Fatah al-Rahman Youssef
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Washington: Saudi Arabia’s Openness will Lead the Region to a Promising Future

People attend the Future Investment Initiative (FII) conference in Riyadh, on October 24, 2017. The head of oil giant Saudi Aramco said that a lack of recent investments in the oil sector could lead to a shortage of supplies. Fayez Nureldine / AFP
People attend the Future Investment Initiative (FII) conference in Riyadh, on October 24, 2017. The head of oil giant Saudi Aramco said that a lack of recent investments in the oil sector could lead to a shortage of supplies. Fayez Nureldine / AFP

US Treasury Secretary Steven Mnuchin said on Wednesday that Saudi Crown Prince Mohammed bin Salman’s policy of openness and moderation would lead the region to a promising future.

Mnuchin was speaking on Wednesday during the Future Investment Initiative Conference, hosted by Riyadh.

He stressed that Saudi Arabia was the “most important partner in the region in combating the financing of terrorism,” adding that the Kingdom has banned associations that support terrorism and target those who fund al-Qaeda, Hezbollah and Taliban.

Mnuchin said that he came to Riyadh to celebrate the opening of the Terrorist Financing Targeting Center, which is co-chaired by the US and the Kingdom.

“The establishment of the center is a step forward to stop the funding of terrorist organizations,” he said.

“We have assigned individuals and parties to deal with the IRGC, the Iranian support for terrorist organizations, and human rights violations in Iran.”

Meanwhile, during the second day of the Investment Future Initiative in Riyadh, officials and economic experts discussed the future of capital investments, especially as the world entered a new era of sovereign wealth.

“We have entered a new era in the world of sovereign wealth. We can talk about the Saudi Public Investment Fund, which we are promoting with a range of investments that cover a wide spectrum of opportunities,” said Yasser Al-Rumyan, CEO of the Saudi Public Investment Fund (PIF).

He pointed out that the PIF not only looks at traditional investments, but also at some developmental investments, and seeks to keep apace with latest changes in the world.

Khalid Al Rumaihi, Executive Chairman of the Economic Development Board and Chairman of the Bahrain Property Investment Committee, said: “We do not just look outside the market, but at the market itself. For example, the Saudi Public Investment Fund, which explores opportunities in major cities and the development of the national economy, can do so on a commercial basis.”

Khaldoun Al Mubarak, CEO of Mubadala Investment Company, said: “There is confidence within sovereign funds clubs. There are relationships that go back to 20, 30 and 40 years. We also have funds operating in Europe, North America and elsewhere.”

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Gulf

Crown Prince of Kuwait Meets with GCC Secretary-General

Secretary General of the Gulf Cooperation Council Jasem Mohamed Albudaiwi. GCC
Secretary General of the Gulf Cooperation Council Jasem Mohamed Albudaiwi. GCC
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Crown Prince of Kuwait Meets with GCC Secretary-General

Secretary General of the Gulf Cooperation Council Jasem Mohamed Albudaiwi. GCC
Secretary General of the Gulf Cooperation Council Jasem Mohamed Albudaiwi. GCC

Kuwaiti Crown Prince Sheikh Sabah Khaled Al-Hamad Al-Sabah met with Secretary-General of the Gulf Cooperation Council (GCC) Jasem Albudaiwi on Monday at the Bayan Palace in Kuwait.

Albudaiwi presented a comprehensive report to Sheikh Sabah regarding Kuwait’s presidency of the 45th session of the GCC Supreme Council, and expressed his appreciation for the generous support and steadfast commitment Kuwait provides to the GCC's journey, SPA reported.

He underscored that such support serves as a powerful catalyst for continued efforts toward achieving greater integration and cooperation, ultimately fostering prosperity and well-being for the GCC member states and their peoples.

Gulf

Botanical Facility Inaugurated at Saudi King Salman Royal Reserve to Boost Ecosystem Sustainability

Saudi  Minister of Interior and Chairman of the Board of Directors of the King Salman bin Abdulaziz Royal Reserve Development Authority Prince Abdulaziz bin Saud bin Naif bin Abdulaziz (R) is seen at the inauguration. (SPA)
Saudi  Minister of Interior and Chairman of the Board of Directors of the King Salman bin Abdulaziz Royal Reserve Development Authority Prince Abdulaziz bin Saud bin Naif bin Abdulaziz (R) is seen at the inauguration. (SPA)
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Botanical Facility Inaugurated at Saudi King Salman Royal Reserve to Boost Ecosystem Sustainability

Saudi  Minister of Interior and Chairman of the Board of Directors of the King Salman bin Abdulaziz Royal Reserve Development Authority Prince Abdulaziz bin Saud bin Naif bin Abdulaziz (R) is seen at the inauguration. (SPA)
Saudi  Minister of Interior and Chairman of the Board of Directors of the King Salman bin Abdulaziz Royal Reserve Development Authority Prince Abdulaziz bin Saud bin Naif bin Abdulaziz (R) is seen at the inauguration. (SPA)

Saudi Minister of Interior and Chairman of the Board of Directors of the King Salman bin Abdulaziz Royal Reserve Development Authority Prince Abdulaziz bin Saud bin Naif bin Abdulaziz inaugurated a central nursery and wild seed research and production station in Al-Jouf, reported the Saudi Press Agency on Monday.

The project aims to boost vegetation cover and sustainability within the reserve. Spanning 1,600 hectares, the project includes advanced botanical facilities, including parent seed fields, seed storage, nurseries, and a wild plant garden, to support local seed and seedling production.

The parent seed fields consist of 14 areas with over 400,000 trees and shrubs from more than 30 local species.

The central nursery covers 60,000 square meters and contains 30 greenhouses, with an annual production capacity of 1.5 million seedlings across 15 plant species. The project boasts a botanical garden spanning 12,000 square meters, featuring over 280 species of trees, shrubs, and perennial grasses.

The central nursery and seed station have contributed to planting over four million seedlings and dispersing more than 8,000 kilograms of seeds across 10 locations within the reserve, resulting in five million wild plants. This reflects the reserve’s commitment to restoring ecosystems and expanding vegetation cover.

Gulf

Saudi-Tunisian Joint Committee Kicks Off 12th Session in Riyadh

Alkhorayef stressed that the convening of the 12th session comes at an important time that requires intensified coordination in growth-driving sectors - SPA
Alkhorayef stressed that the convening of the 12th session comes at an important time that requires intensified coordination in growth-driving sectors - SPA
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Saudi-Tunisian Joint Committee Kicks Off 12th Session in Riyadh

Alkhorayef stressed that the convening of the 12th session comes at an important time that requires intensified coordination in growth-driving sectors - SPA
Alkhorayef stressed that the convening of the 12th session comes at an important time that requires intensified coordination in growth-driving sectors - SPA

The 12th session of the Saudi-Tunisian Joint Committee kicked off Sunday in Riyadh, organized by the Ministry of Industry and Mineral Resources and bringing together representatives from government entities of both countries to discuss opportunities for expanding cooperation and developing strategic partnerships across various economic and development sectors.

The committee session was co-chaired by Minister of Industry and Mineral Resources Bandar Alkhorayef and Tunisian Minister of Economy and Planning Dr. Samir Abdelhafidh, attended by official delegations and government sector representatives from both countries, SPA reported.

In his opening remarks, Alkhorayef emphasized the strength of Saudi-Tunisian relations and the brotherly and economic ties between the two countries, which span more than 70 years. He noted that these ties are reflected today in shared visions and ambitious work programs that align with the aspirations of both countries’ leaderships and peoples, as well as their mutual interests.

He pointed out that the Saudi-Tunisian Joint Committee, launched in 1998, represents an institutional framework aimed at translating cooperation into executable programs and initiatives. He expressed his hope that this session would serve as a new starting point for joint strategic projects and more impactful agreements that contribute to the economic development of both countries.

Alkhorayef stressed that the convening of the 12th session comes at an important time that requires intensified coordination in growth-driving sectors. The minister called on companies in both countries to build practical partnerships in promising industries and value chains. He also highlighted the outcomes of the third meeting, held in Tunisia in July 2025, namely the agreements on mutual recognition of product conformity certificates, which positively contributed to a 38% growth in trade exchange through September 2025 compared with the same period last year.

The committee’s current session focused on boosting cooperation mechanisms, discussing investment opportunities, and exchanging expertise in key sectors, including industry, mining, tourism, transport and logistics, and the judiciary and justice sectors. These efforts aim to enhance trade efficiency, support the access of Saudi products to international markets, and strengthen economic and investment cooperation.