G20 SAUDI ARABIA | King Salman Says Pandemic Proved Flexibility, Strength Of Saudi Economy

Custodian of the Two Holy Mosques King Salman bin Abdulaziz stressed on Monday that the novel coronavirus pandemic demonstrated the flexibility and strength of the Saudi economy.

In an address before the Business 20, he said: ‘We are determined to boost development and prosperity through empowerment and investment in new sectors’.

Minister of Investment Khalid al-Falih read the speech on King Salman’s behalf.

‘The empowerment of youth and women are among the main priorities of the G20’, continued King Salman.

Moreover, he stressed that the G20 has been committed to ‘plugging the financial deficit in the World Health Organization’. It has therefore, contributed 21 billion dollars to support the production of diagnosis tools, treatments, medicines and vaccines, ensuring that they are distributed to all in need.

It has also pumped around 11 trillion dollars to protect the global economy, committing to do ‘all it can’ to overcome the impact of the pandemic.

The G20 had discussed best practices to support the revival of global trade, stimulate economic diversity and boost international investment, continued King Salman.

‘We cannot speak about new horizons in the G20 without discussing innovative solutions that can help develop the financial infrastructure, improve global trade systems and protect the private sector’, he said.

Saudi Arabia To Invest $3.4 Bln In Vaccine,Biomedical Drugs Sector

PARIS, France – Saudi Arabia’s industry and Mineral Resources said on Friday the country would invest $3.4 billion in the vaccine and biomedical drugs sector, according to state news agency SPA. The Minister Bandar Alkhorayef, who heads the newly – established vaccines and biopharmaceutical industry committee, said the move is part of the kingdom’s push … More Saudi Arabia To Invest $3.4 Bln In Vaccine,Biomedical Drugs Sector

Saudi Arabia’s Crown Prince Arrives In Egypt, Will Visit Jordan And Turkey Next

PARIS, France – Saudi Arabia’s Crown Prince Mohammed bin Salman arrived in Egypt on Monday and was welcomed by Egyptian President Abdel – Fattah el Sisi, state news agency SPA reported. The Crown Prince’s visit to Egypt is part of a tour that will include visiting Jordan and Turkey next. The visits were based on … More Saudi Arabia’s Crown Prince Arrives In Egypt, Will Visit Jordan And Turkey Next

Sheikh Mansour Bin Zayed Establishes National Media Office in UAE

PARIS, France – Sheikh Mansour bin Zayed, the UAE’s deputy prime minister and minister of presidential affairs, on Wednesday launched the National Media Office. The unit is tasked with developing the media sector, legislation, regulations, and decisions on media development while also monitoring the implementation of legislation in coordination with the relevant authorities and administrative … More Sheikh Mansour Bin Zayed Establishes National Media Office in UAE

Abu Dhabi’s Mubadala And EQT Fund To Buy Sweden’s Envirotainer

PARIS, France – Abu Dhabi state fund Mubadala and a fund managed by European buyout firm EQT have agreed to buy Envirotainer, a Swedish company which leases out cold containers for shipping temperature – sensitive healthcare products. Mubadala and the EQT X fund are buying the company from European buyout firm Cinven and Denmark life … More Abu Dhabi’s Mubadala And EQT Fund To Buy Sweden’s Envirotainer

Russia’s Lavrov To Meet With GCC Ministers In Riyadh On Wednesday – Officials

PARIS, France – Russian Foreign Minister Sergei Lavrov will visit Saudi Arabia on Wednesday where he will meet with the foreign ministers of the Gulf Cooperation Council Countries (GCC), two Gulf officials said on Tuesday. Lavrov is expected to meet with ministers of Saudi Arabia, the United Arab Emirates, Oman, Kuwait, Bahrain and Qatar in … More Russia’s Lavrov To Meet With GCC Ministers In Riyadh On Wednesday – Officials

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