Saudi Arabia’s Shura Council has recently held a virtual meeting, in which it discussed planning and investment issues.
Members stressed the necessity of addressing interventions and multiplicity in planning within the government departments.
They also highlighted the importance of bolstering the activity of small and medium enterprises (SMEs) to raise the level of local investments.
The Council’s Economic and Energy Committee held its meeting last week. It was chaired by Committee Chairman Dr. Faisal al-Fadhl and attended by Vice Minister of Economy and Planning Faisal al-Ibrahim.
Participants discussed the Ministry’s annual report for Fiscal Year 2020-21.
Members questioned the level of coordination between the Ministry of Economy and Planning and the various ministries and sectors and the challenges facing the ministry in obtaining data. They also discussed multiplicity in planning between the ministry and these sectors, and the overlap of its work with that of other ministries.
Talks focused on plans offered by international companies and consulting offices the ministry has contacts with and studies submitted to various government agencies.
The Committee stressed the importance of the Ministry’s role during the coronavirus pandemic’s effect on the National Transformation programs and projects, especially in assessing the impact of economic policies.
Committee members raised several questions and inquiries and discussed many ideas and visions on addressing the challenges facing the Ministry, such as the scarcity in the number of specialized competencies in the economic field.
The committee also discussed with the officials the Ministry’s role in supporting women empowerment, in line with the Kingdom’s Vision 2030, and means of boosting their role in social development.
They tackled its role in contributing to creating job opportunities for youth in various governorates and centers to achieve balanced development across the Kingdom.
The Committee later held another virtual meeting chaired by Dr. al-Fadhl, with the participation of the Undersecretary of the Ministry of Investment for the Development of the Investment Environment Dr. Ayedh al-Otaibi and Undersecretary of the Ministry of Investment for Marketing and Communication Dr. Khaled Tash.
The parties discussed the annual report of the Ministry of Investment for this fiscal year and the future of foreign investments while assessing their impact on the level and quality of services, localizing the sectors in which they operate, and creating jobs in a way that contributes to reducing unemployment rates.
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