Saudi Arabia’s Cabinet called Tuesday for an immediate halt to all acts threatening maritime navigation and waterway security in the Red Sea, Bab al-Mandab and the Strait of Hormuz, according to the Saudi Press Agency.
Crown Prince and Prime Minister Mohammed bin Salman chaired the session in Riyadh. The SPA account described the Cabinet’s position on regional security but did not announce a new military operation or attribute an attack to any party.
The Cabinet also approved a Consumer Protection Law. The release did not provide the law’s text or an effective date.
In a separate decision, the state will bear customs duties and value-added tax on an imported vehicle for a student abroad on a government scholarship, a government employee carrying out official duties abroad, or an adult family member accompanying either of them abroad. The decision also provides an exemption from the vehicle-import financial fee under regulations set by the Zakat, Tax and Customs Authority. It is limited to those groups, not a general tax holiday.
The Cabinet approved a petroleum-and-gas cooperation memorandum with Korea and a railway cooperation memorandum with Türkiye. It also welcomed the signing of the general agreement on the GCC Railway Project connecting Gulf Cooperation Council member states.
Other decisions authorized discussion and signature of a proposed Saudi-Jordan-Syria communications and digital-infrastructure agreement, and authorized signature of a proposed investment-promotion and protection agreement with Bangladesh. Those authorizations do not mean the proposed agreements have been signed.
JBizNews Desk | Global & Business
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