Saudi Cabinet approves incentives for localization of priority goods, services 

RIYADH: The Saudi Cabinet, chaired by King Salman, has approved the framework for granting incentives for the localization of priority goods and services under the Vision 2030 strategy, according to the Saudi Press Agency.  

Besides bolstering the localization strategy, the Cabinet also ratified a memorandum of understanding between the Saudi government and the International Monetary Fund to establish a regional office for the institution in the Kingdom and support it in capacity development. 

Additionally, the council of ministers approved a memorandum of understanding between Saudi Arabia and Singapore to forge technical ties in the digital economy, emerging tech and digital government. 

They also consented to an agreement between the Kingdom and South Africa for technical cooperation in agriculture, fisheries, and aquaculture. 

The Cabinet also gave the green light for technical collaboration between the General Authority of Civil Aviation and the French Ministry for Ecological Transition and Territorial Cohesion in the field of civil aviation. 

There were also agreements for scientific and technological cooperation between King Abdulaziz City for Science and Technology and Uzbekistan’s Ministry of Innovative Development. 

The Cabinet authorized the minister of education and chairman of the board of directors of the Technical and Vocational Training Corporation to hold talks with the Austrian side and sign a draft memorandum of understanding in the field of technical and vocational training with the Austrian Federal Ministry of Labor and Economy.