Saudi Cabinet approves SRSA reform

22/07/2025 Argaam
Custodian of the Two Holy Mosques King Salman bin Abdulaziz

Custodian of the Two Holy Mosques King Salman bin Abdulaziz

Saudi Arabia’s Cabinet, chaired by King Salman, approved amendments to the regulatory framework of the Saudi Red Sea Authority (SRSA) during a session held in Jeddah today, July 22, the Saudi Press Agency (SPA) reported.

 

The Cabinet also endorsed a memorandum of understanding (MoU) between the Ministry of Investment and the International Finance Corporation (IFC), according to SPA.

 

It commended the National Industrial Development and Logistics Program (NIDLP) for boosting non-oil gross domestic product (GDP), creating varied jobs, enabling investment in strategic sectors, and expanding industrial localization.

 

The Cabinet noted the signing of agreements and MoUs to build a system for exporting renewable energy and green hydrogen from Saudi Arabia to Europe, reinforcing the Kingdom’s role in global logistics and the India-Middle East-Europe Corridor.

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