Saudi Press

Saudi Arabia and the world
Sunday, Feb 22, 2026

Cabinet approves privatization rules

Cabinet approves privatization rules

The Cabinet, headed by the Custodian of the Two Holy Mosques King Salman, approved on Tuesday the rules governing privatization.
At the outset of the session, the Custodian of the Two Holy Mosques thanked Allah Almighty for the bestowed blessings on the Kingdom of Saudi Arabia and the honor in serving the Two Holy Mosques and their visitors.

The King on the occasion of the 91st National Day said that he looks forward to more accomplishments to achieve further progress and prosperity for this country, whose pillars were laid by the late founder King Abdulaziz and continued to grow and empower under the leadership of his sons after him, to be the land of progress, beacon of civilization and home of justice, and a spot that spreads and promotes peace in the whole world.

Then, the Cabinet was briefed on the recent talks and meetings that took place between the Saudi Arabia and a number of countries, including the content of the message that the Custodian of the Two Holy Mosques sent to Algerian President Abdelmadjid Tebboune, dealing with the historical fraternal relations between the two countries and ways to enhance joint cooperation.

The Cabinet touched upon Saudi Arabia, UAE, UK and the US affirmation of commitment to a comprehensive political solution to the crisis in Yemen, their full support for the UN Special Envoy, as well as their call on the Yemeni government to take all necessary steps as soon as possible in order to start achieving economic stability in Yemen.The Cabinet reiterated Kingdom's support for international efforts aimed at preventing Iran from acquiring nuclear weapons and strengthening the Non-Proliferation Treaty in the region and the world.

This is in addition to the Kingdom citing, during the session of the Board of Governors of International Atomic Energy Agency (IAEA), Iran's continued flouting of the IAEA’s safeguards and its non-commitment to the IAEA’s Additional Protocol by working on expanding and developing its nuclear capabilities.

The Cabinet reviewed Saudi Arabia’s activities during the week, including the launch of the Human Capability Development Program (HCDP), one of Vision 2030 realization programs, whereas the program represents a national strategy to strengthen citizens' capabilities locally and globally by seizing promising opportunities resulting from accelerated and renewed changes around the world.

The Cabinet authorized the Chairman of the Board of Directors of the Saudi Space Commission to discuss and sign with the United Nations Space Generation Advisory Council regarding a draft memorandum of cooperation between the Saudi Space Commission of Saudi Arabia and the United Nations Space Generation Advisory Council.

It authorized the Chairman of the Board of Directors of the Saudi Space Commission — or his representative — to sign the joint Declaration of Interest for a Space Climate Observatory.

The Cabinet approved a mechanism of work and governance for the conclusion of trade and trade-related agreements.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Proposed US-Saudi Nuclear Deal Raises Questions Over Uranium Enrichment Provisions
Saudi Arabia Sends 81st Aid Flight to Gaza as Humanitarian Air Bridge Continues
Global Games Show Riyadh 2026 Positioned as Catalyst for Saudi Arabia’s Vision 2030
Saudi Arabia Eases Procurement Rules, Allowing Foreign Firms Greater Access to Government Contracts
Türkiye and Saudi Arabia Seal Two Billion Dollar Solar Energy Agreement
Saudi Crown Prince Reportedly Sends Letter to UAE Leader Over Yemen and Sudan Policies
Saudi Arabia Voices Concerns to UAE Over Sudan Conflict and Yemen Strategy
Saudi Arabia Joins Global Artificial Intelligence Alliance to Strengthen International Collaboration
Shura Island Positioned as Flagship of Saudi Arabia’s Ambitious Red Sea Tourism Drive
Saudi Arabia Rebukes Mike Huckabee Over Remarks in Tucker Carlson Interview
OpenAI CEO Sam Altman praises the rapid progress of Chinese tech companies.
Concerns Mount Over Potential Saudi Uranium Enrichment in Prospective US Nuclear Accord
Trump Directs Government to Release UFO and Alien Information
Trump Signs Global 10% Tariffs on Imports
Investability Emerges as the Defining Test of Saudi Arabia’s Next Market Phase
Saudi Arabia’s Packaging Market Accelerates as Sustainability and E-Commerce Drive Transformation
Saudi Arabia’s Strategic Minerals Drive Offers Lessons for Europe’s Supply Chain Ambitions
Saudi Arabia Unveils $32 Billion Push Into Theme Parks and Global Entertainment
Saudi Crude Exports to India Climb Sharply, Closing Gap With Russia
Saudi Arabia’s Halal Cosmetics Market Expands as Faith and Ethical Beauty Drive Growth
United Kingdom Denies U.S. Access to Military Base for Potential Iran Strike
ImmunityBio Secures Saudi Partnerships to Launch Flagship Cancer Therapy
Türkiye and Saudi Arabia Launch Expanded Renewable Energy Partnership
US Supreme Court Voids Trump’s Emergency Tariff Plan, Reshaping Trade Power and Fiscal Risk
UK Intensifies Efforts to Secure Saudi Investment in Next-Generation Fighter Jet Programme
Saudi Arabia Tops Middle East Green Building Rankings with Record Growth in 2025
Qatar and Saudi Arabia Each Commit One Billion Dollars to President Trump’s ‘Board of Peace’ Initiative
Ramadan 2026 Prayer Times Set as Fasting Begins in Saudi Arabia and Egypt Announces Dates
Saudi Arabia Launches Ramadan 2026 Hotel Campaign to Boost Religious and Leisure Tourism
Saudi Arabia Seeks Reroute of Greece-Bound Fibre-Optic Cable Through Syria Instead of Israel
Saudi-Backed Scopely Acquires Majority Stake in Turkey’s Loom Games to Expand Mobile Portfolio
Zodiac Milpro Launches Zid Marine Joint Venture in Saudi Arabia to Expand Regional Shipbuilding
Saudi Arabia Reaffirms Reform Path Amid Claims of Ideological Reversal
Calls Grow for Saudi Arabia and UAE to Settle Differences Through Direct Dialogue
Jensen Huang just told the story of how Elon Musk became NVIDIA’s very first customer for their powerful AI supercomputer
British couple sentenced to 10 years in Iran for espionage
Former British Prince Andrew Arrested on Suspicion of Misconduct in Public Office
Unitree Robotics founder Wang Xingxing showcases future robot deployment during Spring Festival Gala.
Prince William Holds Talks with Crown Prince Mohammed bin Salman During Saudi Visit
Saudi Arabia’s Humain Commits $3 Billion Investment to Elon Musk’s xAI
SCOPA Executive Unveils Ambitious Relaunch Strategy for Saudi Production Company
Saudi Arabia Sees Rise in Business Visa Rejections Amid Tighter Compliance Checks
Saudi PIF Transfers Take-Two Stake to Savvy Games Group in Strategic Gaming Push
Jimmy Carr Says He ‘Loved’ Saudi Arabia Show Amid Debate Over Performing in the Kingdom
Sotheby’s ‘Origins II’ Auction Signals Saudi Collectors’ Shift Toward Cultural Legacy
EY and Microsoft Deepen Saudi Arabia Partnership with Launch of EY Studio+
Google Pay Launches Support for Mastercard Cards in Saudi Arabia
Saudi Arabia Bolsters Maritime Surveillance Fleet with Four C-27J Patrol Aircraft
Kazakhstan and Saudi Arabia Deepen Strategic Partnership with New Investment and Energy Agreements
Saudi Crown Prince Receives Written Message from Kazakhstan’s President Amid Expanding Strategic Ties
×