Ministry news

​​​​The Ministry of Economy and Planning and King Faisal Center for Research and Islamic Studies signed a memorandum of understanding aiming to enhance cooperation between the two parties in areas of joint action, including developing local capabilities in the field of economic research, developing accurate and comprehensive research tools and economic indicators, and supporting the decision-making process by contributing to the formulation of public policies. The MOU also aims to strengthen the Kingdom's intellectual leadership in the field of economic research.

The MOU was signed on Wednesday at the headquarters of King Faisal Center for Research and Islamic Studies by Dr. Fahad Alhumaidah, Deputy Minister for Strategic Planning and Organizational Excellence, at the Ministry of Economy and Planning, and Mr. Ibrahim Al Deghaither, the Assistant Secretary General of the King Faisal Center for Research and Islamic Studies.

The signing of the MOU is in line with the Ministry's efforts to achieve integration between its economic goals and the research and logistical capabilities of leading local think tanks and unify efforts in developing and harmonizing the strategic direction of national development priorities and economic policies. The Ministry also aims through the MO​​U to deepen high-level partnerships in the following areas: the labor market, economic diversification, financial systems, social support and protection, sustainable economy, and international trade.

Under this memorandum, the two parties will cooperate in the field of research and publication on the most prominent topics related to the Saudi economy, and they will hold events, seminars, and scientific and research activities. They will also seek to exchange information and data in areas related to the activities and specializations of the two parties' fields of business that will help them contribute to achieving the Kingdom's sustainable development and economic diversification.