Saudi Gazette report
RIYADH — The Saudi Council of Ministers lauded the private sector's remarkable contributions to driving the growth of non-oil activities since the launch of Vision 2030, saying that it reflects the effectiveness of economic policies and reforms in enabling the business environment to flourish. Crown Prince and Prime Minister Mohammed bin Salman chaired the Cabinet session in Riyadh on Tuesday.

In a statement to the Saudi Press Agency following the session, Minister of Media Salman Al-Dossary said that the Cabinet also commended the Saudi economy's ability to keep pace with global transformations with flexibility, resilience, and alignment of resources, capabilities, and national priorities, while continuing to drive growth in non-oil sectors like advanced manufacturing, technology, tourism, and entrepreneurship.

At the outset of the session, the Crown Prince briefed the Cabinet on the outcomes of his meetings with leaders and government heads from several friendly countries who visited the Kingdom to attend the Future Investment Initiative (FII) conference. The Cabinet affirmed that the high-level international attendance at the conference reflected global appreciation for the Kingdom's achievements and vision, thereby cementing its status as a leading international economic destination and a global hub for leaders and innovators transforming visions into future-shaping investment strategies.

The Cabinet viewed the Kingdom’s winning the presidency of the International Organization of Supreme Audit Institutions for three years, starting in 2031, as confirmation of its global leadership in enhancing transparency and governance.

The Council also praised AlUla for winning three World Travel Awards for 2025, an achievement that embodies its continued excellence and growing prominence on the regional tourism map, showcasing its wealth of diverse historical, cultural, and civilizational assets.

The Cabinet approved a headquarters agreement between the Saudi government and the Arab Urban Development Institute. It approved a memorandum of understanding on financial cooperation between the Saudi and Kuwaiti governments. The Council authorized the minister of tourism or his deputy to discuss and sign a draft memorandum of understanding (MoU) on tourism cooperation with the Ministry of Tourism, Post, Cooperation, Expo, Information, and Attraction of Tourism Investments of San Marino.

The Cabinet approved a MoU on economic and trade cooperation between the Saudi Ministry of Economy and Planning and the Vietnamese Ministry of Industry and Trade, and an air transport services agreement between the governments of Saudi Arabia and Panama.

It also endorsed a MoU on the management of veterinary medical products between the Saudi Food and Drug Authority and the French Agency for Food, Environmental and Occupational Health and Safety, and another MoU on cooperation in measurement, evaluation, and accreditation between the Saudi Education and Training Evaluation Commission and Kuwait University.

The Cabinet approved to transfer the authority to issue licenses for the chemical consulting profession from the Ministry of Commerce to the Ministry of Energy. It approved granting financial incentives to those who assist in uncovering violations of the Municipal Violations Penalties Regulations, subject to certain conditions.

The Ministry of Industry and Mineral Resources, in agreement with the Ministry of Finance, shall take the necessary steps to establish and approve a specific budget item for the localization of pharmaceutical industries within the budgets of government health authorities.