Saudi newspapers highlighted in their editorials today a number of issues at local, regional and international arenas. Al-Riyadh and Al-Yaum newspapers reported in their editorials that the Kingdom of Saudi Arabia attaches great importance to the railway sector since the era of the founder, King Abdulaziz, as the sector keeps witnessing many developments to raise its efficiency and increase its contribution to economic growth. In this regard, the newspapers pointed to the Cabinet's decision about revoking Saudi Railways Organization and its regulations issued by Royal Decree No. M/3 dated 22/1/1386 AH, starting from 1/4/2021, and to be replaced by the Saudi Railway Company (SAR). The newspapers added that the railway transport sector plays a prominent role in supporting the diversification of the economy and contributing to the work of developing the infrastructure. Moreover, one of the objectives of the Kingdom's Vision 2030, which includes transforming the Kingdom of Saudi Arabia into a global logistics hub that connects the three continents. The newspapers concluded that all the dimensions of the Cabinet's decision represent Saudi Arabia's continuous efforts in order to achieve the objectives of the Kingdom's vision of promoting every thing that would contribute to the development march. In another context, Al-Bilad newspaper said in its editorial that the Saudi Arabia is witnessing tremendous achievements in all sectors under its wise leadership, in order to build the future of the Saudi economy, in accordance with the ambitious goals of Vision 2030. In this regard, the Cabinet approved the establishment of Small and Medium Enterprises Bank to increase its contributions to the GDP from 28% to 35%. The small and medium enterprises (SMEs) sector has witnessed during the last few years a strong package of support and regulatory measures, as well as financing initiatives that today constitute the approval of establishing the new bank and its policy, serving small and medium enterprises and entrepreneurship through digital channels, the newspaper added. These qualitative steps represent a strong start for the sector, in terms of project opportunities, feasibility studies and financing, which shortens the path towards a promising future for the SMEs sector, the newspaper concluded.
