Crown Prince Abdullah bin Abdul Aziz, Deputy Premier and Commander of the National Guard, who is also Chairman of the Economic Higher Council, presided over the Council’s session at Al-Yamamah Palace here today.
The session was attended by Prince Sultan bin Abdul Aziz, Second Deputy Premier, Minister of Defence and Aviation and Inspector General, who is also the Council’s Deputy Chairman; Ministers who are also members of the Council, and members of the Consultant Commission for Economic Affairs.
In a statement following the session, the Secretary General of the Council, Dr Abdulrahman bin Abdul Aziz Al-Tuwaijri, said that at the outset of the session, the Council was briefed by Prince Abdullah bin Faisal bin Turki, Chairman of the Board of Directors and Governor of the Investment General Authority, on the Authority’s activities in investment and its efforts to serve foreign investors.
The Council then discussed items on its agenda and took the relevant decisions.
After reviewing the list of activities open to foreign investment, the Council approved another list closed to foreign investment. The latter list included a number of items pertaining to industrial and service sectors. The Council said that the list should be reviewed annually, with a view to opening some sectors of the economy to foreign investment at the time of promulgation of the relevant regulations.
The Council approved that the Ministry of Agriculture begin leasing lands assigned for fishery investment in the plains of Jazan and Tihama, in accordance with controls and provisions for granting licenses to agricultural investment projects.
The Council also approved the draft memorandum of understanding signed by the Kingdom of Saudi Arabia, Syria and Jordan in the field of transportation.
Source: SPA
