The Cabinet signed off on a new Commercial Registration Law, a new Trade Names Law, and a new Real Estate Tax Law during its weekly meeting yesterday, according to state news agency SPA. The statement did not provide any further information on these laws or the changes made.

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The Council of Ministers also approved the formation of the Saudi-Egyptian Supreme Coordination Council, according to SPA. The approval comes days after Egyptian Prime Minister Moustafa Madbouly met with Crown Prince Mohammed bin Salman in Riyadh to discuss facilitating investments. The Crown Prince directed the Public Investment Fund to invest USD 5 bn in Egypt. The Crown Prince also said during his meeting with Madbouly he wants to hold the first meeting of a coordination council between the two sides in October.

Other agreements + decisions approved:

  • An educational MoU with Guinea-Bissau;
  • A civil aviation MoU with the European Civil Aviation Conference;
  • A revised protocol for the Saudi-Jordanian Coordination Council;
  • A Sharia-compliant MoU with the World Intellectual Property Organization concerning judicial rulings;
  • An updated agreement with Jordan for mutual investment protection;
  • Approval of a standard MoU template for the Saudi Food and Drug Authority to collaborate with international counterparts;
  • Promotions and appointments to senior positions across several ministries.
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