SR4bn fund to boost growth

The Cabinet on Monday authorized the Public Investment Fund to coordinate with the Ministry of Commerce and Investment to take necessary measures to establish a SR4 billion fund to be tasked with investing in venture capital funds and private properties, to support and stimulate investment opportunities for small and medium enterprises .
The Cabinet also renewed the call for intensifying efforts at all levels to fight terrorism and extremism while citing the Kingdom’s initiative in forming a 34-nation Islamic alliance against the scourge. 
During its session, chaired by Vice Custodian of the Two Holy Mosques Prince Mohammed bin Naif at the Al-Salam Palace here, the Cabinet rejected the claims made by some human rights organizations on the humanitarian situation in Yemen.
It stressed on the clarification issued by the coalition command in response to false allegations about the health condition in Yemen, and underestimating the coalition’s efforts in the delivery of humanitarian aid to the citizens of that country.
The Cabinet emphasized on the fact that the coalition is considered the biggest donor of humanitarian assistance to Yemen and that Saudi Arabia alone has provided aid worth over $500 million, making it the biggest donor to that country.
The vice custodian of the Two Holy Mosques briefed the Cabinet on the receptions Custodian of the Two Holy Mosques King Salman held for King Mohammed VI of Morocco, President Omar Hasan Al-Bashir of Sudan and Sheikh Mohammed bin Zayed Al-Nahyan, crown prince of Abu Dhabi and vice commander-in-chief of the armed forces of the UAE. During each reception, fraternal relations and issues of mutual interest were reviewed. 
The outcome of the audience held by the vice custodian of the Two Holy Mosques for Brett Macgork, US President’s envoy for international coalition against Daesh, was also reviewed. The Kingdom’s support for international efforts aimed at confronting terrorist organizations’ acts, led by Daesh, was reiterated.
Adel Al-Toraifi, minister of culture and information, said in a statement to SPA following the session that the Cabinet welcomed the declaration of Nouakchott and resolutions issued at the conclusion of the 27th Arab summit in Mauritania. The Cabinet expressed its thanks to the Islamic Republic of Mauritania’s government and people, led by President Mohammed Ould Abdulaziz, for hosting the summit. 
The Cabinet condemned the agreement reached between Houthis and followers of Ali Abdullah Saleh on forming a political council in Yemen. “It (alliance) is an obstacle to the political arrangement to end the sufferings of the Yemeni people, and a flagrant violation of the resolutions of the Arab League, Organization of Islamic Cooperation, UN Resolution 2216, the Gulf Cooperation Council’s initiative and its executive mechanism as well as the outputs of the comprehensive national dialogue.”
The Cabinet also denounced the decision of the Israeli occupational authorities for allowing the construction of 770 new residential units in occupied Eastern Al-Quds as part of the continuing aggression against Palestinians. The Cabinet supported the legitimate rights of the Palestinian people, including their right to establish an independent state with Al-Quds as its capital.

Resolutions approved
During the session, the Cabinet approved the following resolutions:
• A cooperation agreement in the field of countering cross-border crimes between the Saudi Arabia and Mexico, which was signed in Riyadh on 07/04/1437 AH.
• A memorandum of understanding for cooperation in the field of cultural heritage, museums, architectural heritage, crafts and handicrafts between the General Authority for Tourism and National Heritage of Saudi Arabia and the Ministry of Culture of Peru, which was signed in Lima on 03/12/1436 AH.
• An agreement in the military and technical fields between Saudi Arabia and Morocco, which was signed in Rabat on 04/03/1437 AH.
• A number of arrangements on the activation of the role of the private sector as well as the increase of its contribution to the GDP via stimulating investments related to capital and private ownership.
• A cooperation agreement on the peaceful use of atomic energy between the Saudi Arabia and Finland, which was signed in Helsinki on 24/11/1436 AH.
• Two final accounts of the Saudi Industrial Development Fund and the Small and Medium Enterprises Loan Guarantee Program for the fiscal year 1435/1436 AH.
The following appointments were approved:
• Abdulaziz bin Abdulrahman bin Abdul Aziz Al-Khunain transfer from the post of Civil Service Adviser (Rank 15) to the post of Undersecretary of the Ministry (Rank 15) at the Ministry of Civil Service.
• Mohammed bin Saleh bin Abdullah Al-Ghufeili’s appointment to the post of Economic Adviser (Rank 15) at the Ministry of Finance.
• Mishaal bin Naif bin Thellab Otaibi’s appointment to the post of Financial Adviser (Rank 15) at the Ministry of Health.
• Sefer bin Sweyed bin Sefer Al-Ghamdi’s appointment to the post of Assistant Undersecretary of the Principality for Development Affairs (Rank 14) at the Baha Region Principality.
• Khalid bin Abdullah bin Abdul Aziz bin Khamis’s transfer from the post of Al-Mahd Governor/A Class (Rank 14) to the post of Security Adviser (Rank 14) at Madinah Region Principality.
• Abdullah bin Abdul Aziz bin Abdulrahman Al-Asker’s transfer from the post of Head Sector (Rank 14) to the post of Director General of General Budget (Rank 14) at the Ministry of Finance.
• Jamal bin Abdulrahman bin Mohammed Al Abdulhadi’s appointment to the post of Head Sector (Rank 14) at the Ministry of Finance.
• Mohammed bin Abdulmohsen bin Abdulaziz Al-Mowais’s appointment to the post of Director General of Administrative and Financial Affairs (Rank 14) at the Ministry of Health.
• Uqab bin Munahi bin Uqab bin Aboud’s appointment to the post of Director General of Health Affairs in Eastern Region (Rank 14) at the Ministry of Health.
• Saad bin Abdullah bin Suleiman Al-Yousef’s appointment to the post of Petroleum Adviser (Rank 14) at the Ministry of Energy, Industry and Mineral Resources.
• Yousef bin Abdullah bin Hamid Al-Hamed’s appointment to the post of Civil Service Adviser (Rank 14) at the Ministry of Civil Service.
• Sulaiman bin Hassan bin Mansour Al-Zughaibi’s appointment to the post of Director General of the Ministry’s Branch in Riyadh Region (Rank 14) at the Ministry of Civil Service.