Saudi Cabinet Reviews Third Phase of Vision 2030, Endorses Key MoUs and International Partnerships

Jeddah, The Gulf Observer: The Council of Ministers of the Kingdom of Saudi Arabia, chaired by Crown Prince and Prime Minister Mohammed bin Salman, convened in Jeddah to discuss the third phase of Saudi Vision 2030, scheduled to launch in 2026, with a focus on sustaining ongoing transformation efforts and seizing emerging growth opportunities.

In a statement to the Saudi Press Agency (SPA), Minister of Media Salman Al-Dossary highlighted the Cabinet’s appreciation for the dedicated efforts of government entities that have significantly advanced the goals of Vision 2030. The Vision 2030 Annual Report 2024 revealed that 93% of the initiative’s national targets have been met or surpassed, underlining the Kingdom’s commitment to comprehensive development and innovation.

The Cabinet emphasized that Phase Three of Vision 2030 will prioritize:

Sustaining the impact of transformative programs,
Capitalizing on growth opportunities across sectors,
Enhancing monitoring mechanisms for current initiatives,
Strengthening alignment between national strategies and Vision 2030’s overarching objectives.

At the start of the session, the Crown Prince briefed ministers on his recent engagements with Jordan’s King Abdullah II and India’s Prime Minister Narendra Modi. The Cabinet welcomed the positive outcomes of the second meeting of the Saudi-Indian Strategic Partnership Council, recognizing the growing economic, trade, and investment ties between the two nations.

Regional and Global Commitments

The Cabinet reiterated the Kingdom’s active role in regional and international platforms, reaffirming Saudi Arabia’s commitment to addressing global challenges and promoting stability and prosperity.

It renewed calls for the swift resolution of the Palestinian issue, in line with international resolutions and the Arab Peace Initiative, advocating for an independent Palestinian state along the 1967 borders with East Jerusalem as its capital.

On Syria, the Council emphasized the Kingdom’s dedication to supporting economic recovery efforts, urging global financial institutions to re-engage and help restore livelihoods and infrastructure for the Syrian people.

Domestic Initiatives and National Achievements

The Cabinet lauded the success of the Saudi Statistics Forum, celebrating 65 years of statistical development, which has played a pivotal role in shaping data-driven policies and advancing sustainable development goals.

The Council also expressed gratitude for the SR1 billion donation by the Crown Prince to the National Development Housing Foundation, reaffirming his ongoing commitment to housing programs and improving quality of life for families across the Kingdom.

Structural Reforms and MoUs

Key decisions and approvals included:

Updated organizational structure for the Ministry of Investment,
Amendments to the White Land Tax Law,
Renaming the Saudi Institute of Internal Auditors to the Saudi Authority of Internal Auditors, along with transfer of licensing powers from the Ministry of Commerce.

International Cooperation Agreements

The Council approved several bilateral agreements and MoUs, including:

Host Country Agreement with INTERPOL for a regional office in Saudi Arabia (Middle East & North Africa),
City management cooperation MoU between Riyadh Municipality and Seoul Metropolitan Government,
Mineral resources MoU with Jordan,
Tourism cooperation MoU with Zambia,
Economic research MoU with India’s Observer Research Foundation,
SME and startup development MoU with Bahrain’s Labor Fund,
Tax administration MoU with Morocco,
Mutual recognition of AEO programs with Egyptian Customs Authority,
Digital government cooperation MoU with Morocco,
Telecommunications cooperation MoU with India,
Meteorology MoU with China Meteorological Administration,
Archiving and records management MoU with Indonesia’s National Archives.

These agreements reinforce the Kingdom’s commitment to diversified international partnerships, reflecting its Vision 2030 goal to establish Saudi Arabia as a global investment powerhouse and innovation hub.