Khaberni - The Saudi Press Agency (SPA) reported on Tuesday that the Saudi Cabinet is following the developments in maritime navigation in «Strait of Hormuz».
During its meeting on Tuesday in Jeddah, chaired by Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, it was emphasized that the Kingdom's decades-long investments in energy security and alternative export routes have bolstered its capabilities to support the world with energy under the most challenging circumstances imposed by regional geopolitical events and their repercussions on global supply chains.
During the meeting, the Saudi Cabinet approved the organization of the Non-oil Revenue Center. The Cabinet noted the historic performance recorded by the non-oil exports in the year 2025, achieving an annual growth of 15% compared to 2024, which embodies the success of national efforts aimed at developing exports, expanding the export base of the Kingdom, and enhancing its position among the fastest growing economies globally.
The Council also blessed the launch of the five-year strategy of the Public Investment Fund which aligns with the third phase of the Kingdom's Vision 2030, focusing on building local economic systems with high competitive capacity; enhancing international leadership and supporting assets and sustainability of returns, and increasing the private sector's contribution to aspects of development.
