Custodian of the Two Holy Mosques King Fahd Bin Abdul Aziz Al-Saud, presiding today over the regular weekly session of the Council of Ministers, praised the priority given in the successive development plans to industrialization within the framework of a policy of diversifying production and an increase in the contribution of the private sector to the development process, and especially to the promotion of a concrete technological base for enhancing the abilities of young people in the Kingdom. The King highlighted the remarkable porgies realized by the industrial sector and particularly the petrochemical, oil refining and other downstream industries.
Minister of Information Dr. Fouad Al-Farsi reported that King Fahd remarked on the great contribution made by the oil-refining and downstream industries to the overall national industrial exports, and expressed pride on the joint efforts of the public and private sectors in reinforcing the nation’s industry and in particular in upgrading chemical plants, saying: “Successive development plans have focused on the importance of industrialization as the ideal way to diversify productivity and lessen dependence on petroleum products. It also contributes to the development projects of the private sector, provides more job opportunities and promotes the abilities of the national cadres”.
King Fahd also briefed the cabinet on recently-received statistical statements concerning the tremendous success accomplished by the industrial sector. By the end of 1415 H., [by May 1995] the total number of licensed productive factories in the Kingdom rose to 3,355 with a total invested capital of SR 157.42 billion [more than U.S. $ 42 billion] and a total manpower of 209,000.
Minister Al-Farsi reported that the King reviewed with the cabinet a number of issues pertaining to citizens and urged the ministers to facilitate such matters and keep their doors open to maintain good ties with the citizens. Referring to the domestic issues raised during today’s meeting, Dr. Al-Farsi said that King Fahd expressed appreciation at the positive response by the citizens to the polio immunization campaign launched last week by the concerned authorities in an attempt to eliminate the disease over the next five years, praising the efforts being made by the Ministry of Health to promote such services.
On the international level, the cabinet expressed satisfaction with the Bosnian peace talks being held in the USA at Dayton, Ohio with the aim of finding an acceptable settlement that would put an end to the plight of the Bosnian people resulting from the war imposed by the Serbian aggressors. King Fahd also praised the outcome of this week’s meeting of the GCC ministerial council and the joint meeting held in Muscat by the GCC Ministers of Foreign Affairs, Petroleum, and Finance, in preparation for the upcoming GCC summit.