JEDDAH — Saudi Arabia's Cabinet, chaired by Crown Prince and Prime Minister Mohammed bin Salman, approved on Tuesday a new law regulating property ownership by non-Saudis. The weekly session, held in Jeddah, began with the Crown Prince briefing the Cabinet on his recent talks with Indonesian President Prabowo Subianto and the phone call he received from German Chancellor Friedrich Merz. The Cabinet commended the outcomes of the first meeting of the Saudi-Indonesian Supreme Coordination Council, highlighting the strength of bilateral ties and the signing of agreements and memoranda of understanding between private sector entities in both countries. These agreements cover clean energy, petrochemicals, aviation fuel services, and other sectors aligned with a shared vision for advanced economic partnership. Acting Minister of Media Dr. Essam bin Saeed said in a statement to the Saudi Press Agency (SPA) that the Cabinet also reviewed Saudi Arabia's contributions to global economic growth, reaffirming the Kingdom's commitment to multilateral cooperation and market stability. This includes continued coordination with oil producers within the OPEC+ alliance to support petroleum market balance. The Cabinet welcomed the Kingdom's hosting of the 21st General Conference of the United Nations Industrial Development Organization (UNIDO), set to take place in Riyadh this November. The conference aims to develop joint solutions to challenges related to sustainable manufacturing, innovation, and technological transformation. In a related development, the Cabinet lauded the unanimous adoption by the UN Human Rights Council of a Saudi-led resolution to protect children in the digital space. The initiative stems from the global "Child Online Safety" campaign launched by the Crown Prince and reflects the Kingdom's commitment to a safer, more inclusive cyberspace for younger generations. The Cabinet also celebrated Saudi Arabia's continued top ranking in global cybersecurity, as reported in the 2025 edition of the World Competitiveness Yearbook. This achievement adds to the Kingdom's record of rapid progress in the technology sector, including localizing key technologies and enhancing international collaboration. Dr. Essam noted that the Kingdom's first-place ranking in the 2025 International Telecommunication Union's ICT Development Index confirms the strength of its smart digital infrastructure, growing investment climate, and a digital economy now valued at SR495 billion. Cabinet members praised recent advances in the fight against narcotics, including major operations targeting organized crime networks trafficking in illegal substances and continued efforts to safeguard public health and safety. Additional decisions from the session included approval of the updated National Transport and Logistics Strategy, approval of the organizational structure of the General Authority for Irrigation, approval of Saudi Arabia's adoption of World Drowning Prevention Day, to be marked annually on July 25. The Cabinet also approved a directive for the Social Development Bank to launch a guarantee program targeting the Kingdom's most financially vulnerable groups, enabling access to financing from the bank and other institutions.
