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- Cabinet also reaffirmed the OPEC+ oil supply deal and the organization’s call on all major crude producers to take part in the stability of the oil market.
RIYADH: The Cabinet on Tuesday reviewed the coronavirus disease (COVID-19) pandemic and its implications at the local and international levels. The ministers reviewed measures to fight the pandemic in the Kingdom and ensure the safety of citizens and residents.
In a statement issued to the Saudi Press Agency, acting Media Minister Dr. Majid Al-Qasabi said the Cabinet reaffirmed the OPEC+ oil supply deal and the organization’s call on all major crude producers to take part in the stability of the oil market.
The Cabinet affirmed the Kingdom’s support to the Global Alliance for Vaccines and Immunization (GAVI), a public-private global health partnership. Saudi Arabia has pledged $150 million to GAVI.
The Cabinet also discussed the outcome of the donors’ conference for Yemen, which was organized in partnership with the UN.
The ministers welcomed the Egyptian plan to resolve the Libyan crisis and ensure the stability of the North African country.
The Cabinet rejected Israeli plans to annex West Bank and reiterated the Kingdom’s stance in support of the Palestinians and their right.
The ministers authorized the transport minister to sign a draft multiparty memorandum of cooperation on information regarding security threats to the civil aviation system.
The Cabinet also approved a new mining investment system. Saudi Arabia’s private sector is forecast to invest around SR28 billion in the mining industry, according to an earlier report by Al-Eqtisadiah newspaper citing the Ministry of Industry and Mineral Resources.
The ministry seeks to boost the mining sector’s contribution to the gross domestic product by SR176 billion by 2030, increase the sector’s returns by SR8.9 billion, and create 219,000 new jobs.