The Council of Ministers has given the go-ahead for the foundation of the Wadi Makkah Company for Technolog. The joint-stock company will contribute to the development of a knowledge-based economy by entering into a partnership with educational and research institutions as well as the private sector. The new company will achieve its goals by carrying out a number of activities including investment in technology transfer and its development and preparing university students to work in the private sector through training, rehabilitation and securing adequate job opportunities during the academic stage itself. It also aims to provide an appropriate environment for conducting useful scientific research economically so as to enhance economic knowledge besides ensuring investment opportunities in scientific research and the development of teaching staff. The Cabinet meeting, chaired by King Abdullah, Custodian of the Two Holy Mosques, reviewed events in the Arab, regional and international arenas and welcomed the decisions taken by the recent Arab Summit in Baghdad. The Cabinet also lauded the outcome of this week's GCC-US ministerial meeting on strategic cooperation in political, military, security and economic spheres. On Syria, the Cabinet supported the GCC-US meeting's condemnation of continued violence and killings in Syria perpetrated by President Bashar Al-Assad's regime. The Cabinet stressed that violence must end in that country and that Damascus must take sincere steps to implement peace envoy Kofi Annan's proposals. It also asked those countries having direct relations with the Syrian regime to support the efforts of the international community to resolve the year-long crisis, Dr. Abdul Aziz Khoja, Minister of Culture and Information, said after the meeting. The Council of Ministers, Khoja said, expressed the Kingdom's appreciation for all international efforts to contain the Syrian crisis including the “Friends of Syria” conference in Istanbul which recognized the opposing Syrian National Council as a legitimate representative of all Syrians. On domestic issues, the Cabinet approved a cooperation agreement between the Kingdom and Malaysia based on the recommendation of the Crown Prince and Interior Minister. It also approved the money laundering law and ordered continuation of the implementation of the rules defining crimes of financing money laundering. It also approved appointments on Grade 14 and 15.
