The Saudi Cabinet session, chaired by Crown Prince and Prime Minister Mohammed bin Salman, approved several key laws, including the Law of Commercial Registration and the Law of Trade Names, during its meeting in Riyadh on Tuesday.
New Legislation and Initiatives Approved
The Council of Ministers also approved the Tax Law of Real Estate Transactions and designated 2025 as the "Year of Handicrafts," reflecting Saudi Arabia's ongoing commitment to cultural preservation and economic diversification.
Saudi-Chinese High-Level Committee Outcomes
Following the session, Minister of Media Salman Al-Dossary highlighted the positive outcomes of the Saudi-Chinese High-Level Committee, emphasizing the comprehensive strategic partnership between Saudi Arabia and China across various sectors, including political, security, and economic cooperation.
Strengthening Saudi-Egyptian Relations
The Cabinet also praised the talks between the Egyptian prime minister and Saudi leadership, reaffirming the deep fraternal relations between the two countries and their mutual commitment to expanding cooperation.
Regional and International Cooperation
In its session, the Cabinet discussed Saudi Arabia's active participation in regional and international events, reaffirming its dedication to achieving security and stability while addressing global challenges in cooperation with other nations and organizations.
Support for Palestinian Cause
The Cabinet underscored the importance of implementing the two-state solution for the Palestine issue, halting Israeli aggression in Gaza, and delivering humanitarian aid to alleviate the suffering of the Palestinian people.
Commitment to Nuclear Energy and Global Food Security
The Kingdom reiterated its commitment to nuclear energy development, emphasizing its plans to build the first nuclear power plant and host an international nuclear emergency conference in 2025. Additionally, the Cabinet highlighted Saudi Arabia’s focus on enhancing global food security and supporting the space economy.
Achievements in AI and Cybersecurity
The Cabinet lauded the success of the 3rd Global AI Summit and the Kingdom's top ranking in the United Nations Global Cybersecurity Index, underscoring its leading role in fostering technological innovation and cybersecurity.
Economic Growth and Stability
The Cabinet reviewed positive national economic indicators, including stable inflation rates and growth in non-oil activities, reinforcing the strength and resilience of Saudi Arabia's economy in the face of global economic challenges.
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