1997 News Story
 

03/18/1997
Council of Ministers meeting

Custodian of the Two Holy Mosques King Fahd Bin Abdul Aziz presided over the regular weekly meeting of the Council of Ministers yesterday, and expressed his government's hope, with regard to the projections of the current Sixth Development plan, that the private sector would contribute 57% in the implementation of the total expected investments as well as financing it with 45% of its savings. King Fahd said that the objective of the private sector, in line with this plan, is to realize an annual rate of average real growth with a 4.3 % added value.


Minister of Information Dr. Fouad Al-Farsi reported that King Fahd said the share of private enterprise in the growth of the GDP in the non-oil sector is expected to increase to 76% by the end of the plan period.
Addressing the issue of Saudi manpower, King Fahd stated that one objective of the development plan is to increase the number of the Saudi work force in the private sector by 466,000 workers through the Saudization program including 182,000 newly created jobs.

Elaborating on the determination of the government to implement a host of harmonious initiatives and policies to achieve the development goals of the private sector, King Fahd expressed hope that the sector continue to assume responsibilities and enlist its well known potential in support of the national economy and opt for the use of advanced technology and the recruitment of efficient and trained Saudi manpower.

Regarding the visit of Prince Sultan Bin Abdul Aziz Second Deputy Prime Minister, Minister of Defense and Aviation to the United Kingdom; the King praised the continual improvement of the bilateral relations with Britain in all fields and affirmed that the Kingdom looks forward to expanding the range of consultative and balanced cooperation between the two countries.

On the occasion of the international day on cooperation with South Lebanon and the West Bekaa Valley of Lebanon, King Fahd appealed to the International Community and the Security Council to work on the implementation of the UN resolutions including Security Council resolution No. 425 which stipulates Israeli withdrawal from all Lebanese territories.

As to the Kingdom's position on Jerusalem, King Fahd dismissed the Israeli measures to build new settlements on the outskirts of Jerusalem as contravening the UN resolutions and the Madrid Conference in an attempt to eradiccate its Arab and Islamic identity.

Finally King Fahd described organizing Saudi trade and industrial exhibitions at the world level as a positive contribution in enhancing commercial exchange and providing opportunities for Saudi companies and plants to increase exports.

After reviewing the items on its agenda, the cabinet approved the official text of the Five-Language Protocol of the International Civil Agreement signed in Chicago 1944 as well as the approval of the amendment to the above mentioned agreement which recognized Arabic within the signatory languages in Montreal in September, 1994.

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