News / National
Saudi Arabia approves mining agreements with Zimbabwe
19 Jul 2024 at 05:49hrs | Views
MINING agreements with Zimbabwe, Jordan and Gabon were signed off by the Saudi Cabinet, and a range of economic deals were rubber-stamped.
Approved during the meeting chaired by Crown Prince Mohammed bin Salman, these deals come as the Kingdom seeks to increase the mining sector's contribution to gross domestic product to between $70 billion and $80 billion by 2030, up from the current level of $26 billion.
Other agreements include cooperation deals with China on modern transportation, Singapore on halal product quality, and the African Civil Aviation Commission, according to the Saudi Press Agency.
The efforts fit in with Saudi Arabia's economic diversification plan, which has already witnessed non-oil economic activity contributing 50 percent to the nation's GDP in 2023.
Furthermore, the Cabinet reviewed a range of general topics, including the annual reports of the Ministry of Tourism and the Cultural Development Fund, and took necessary actions to advance these sectors.
Minister of Information Salman bin Yousef Al-Dosari underscored the discussions, emphasising ongoing initiatives to enhance infrastructure, improve service quality, develop key sectors, and attract investments. These efforts aim to stimulate national industries and foster sustainable economic growth.
Approved during the meeting chaired by Crown Prince Mohammed bin Salman, these deals come as the Kingdom seeks to increase the mining sector's contribution to gross domestic product to between $70 billion and $80 billion by 2030, up from the current level of $26 billion.
Other agreements include cooperation deals with China on modern transportation, Singapore on halal product quality, and the African Civil Aviation Commission, according to the Saudi Press Agency.
The efforts fit in with Saudi Arabia's economic diversification plan, which has already witnessed non-oil economic activity contributing 50 percent to the nation's GDP in 2023.
Furthermore, the Cabinet reviewed a range of general topics, including the annual reports of the Ministry of Tourism and the Cultural Development Fund, and took necessary actions to advance these sectors.
Minister of Information Salman bin Yousef Al-Dosari underscored the discussions, emphasising ongoing initiatives to enhance infrastructure, improve service quality, develop key sectors, and attract investments. These efforts aim to stimulate national industries and foster sustainable economic growth.
Source - Arab News
