Saudi Cabinet greenlights regulation for Supreme Space Council oversight

The Cabinet, led by Custodian of the Two Holy Mosques King Salman in Riyadh on Tuesday, sanctioned the regulation of the Supreme Space Council.

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The Council, helmed by Crown Prince and Prime Minister Mohammed Bin Salman, was established due to the strategic importance of the space sector, which represents the next trillion-dollar global economy and is a vital catalyst for innovation, inspiring future generations.

The Cabinet was briefed on recent talks between the Kingdom and several countries, including a message from the Costa Rican President to Crown Prince Mohammed discussing ties and their development. Emphasizing the need for international action, the Cabinet called for a ceasefire in the Gaza Strip, protection for the Palestinian people, and accountability for Israeli occupation forces violating international law.

Reiterating the Kingdom's commitment to peace, the Cabinet discussed measures to develop vital sectors in line with Vision 2030 goals. The focus was placed on advancing the National Biotechnology Strategy to strengthen national healthcare, enhance quality of life, protect the environment, achieve food and water security, maximize economic opportunities, and promote local manufacturing.

Affirming dedication to housing and real estate development, the Cabinet commended the vision presented at the Real Estate Future Forum. It authorized the Minister of Energy to discuss and sign a draft memorandum of understanding with China in the oil, gas, and minerals sectors.

An annex to the Agreement on the Formation of the High-Level Joint Committee by Saudi Arabia and China was approved by the Cabinet, along with a sports cooperation memorandum between the Saudi Ministry of Sport and the Portuguese Presidency of the Council of Ministers.

Additionally, the Cabinet authorized discussions and the signing of a draft headquarters agreement with the Islamic Military Counter-Terrorism Coalition (IMCTC) and a memorandum of understanding with the Environment and Ecology Bureau of the government of Hong Kong. Talks for a cooperation memorandum to stimulate direct investment with Serbia were also greenlit.

Approval for the Ministry of Transport and Logistic Services to join the International Transport Forum, an economic cooperation agreement with Latvia, and discussions on a memorandum of understanding with Kuwait in the field of economy and planning were granted. The Cabinet also authorized agreements with other countries to exchange tax-related information.

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