On Tuesday, a new rule governing non-Saudi property ownership was passed by the Saudi Cabinet, which is led by Crown Prince and Prime Minister Mohammed bin Salman. The Crown Prince started the weekly meeting in Jeddah by updating the Cabinet on his recent discussions with Indonesian President Prabowo Subianto and the call he had from German Chancellor Friedrich Merz.
The Cabinet praised the results of the Saudi-Indonesian Supreme Coordination Council’s first meeting, emphasising the two countries’ strong bilateral connections and the signing of memorandums of understanding and agreements with private sector organisations in both nations. Clean energy, petrochemicals, aviation fuel services, and other industries that share a vision for advanced economic collaboration are all included by these accords.
In a statement to the Saudi Press Agency (SPA), Acting Minister of Media Dr. Essam bin Saeed stated the Cabinet also examined Saudi Arabia’s contributions to global economic growth, restating the Kingdom’s dedication to market stability and multilateral cooperation.
To maintain the equilibrium of the petroleum market, ongoing collaboration with oil producers within the OPEC+ coalition is necessary. The Cabinet praised the Kingdom for hosting the United Nations Industrial Development Organization’s (UNIDO) 21st General Conference, which will be held in Riyadh in November.
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