Kuwait city: Kuwaiti Undersecretary of the Ministry of Finance Aseel Al-Munifi announced that two memoranda of understanding signed with Saudi Arabia are a result of historic and long-standing relations, setting the stage for enhanced cooperation.
According to Kuwait News Agency, Al-Munifi, who leads Kuwait's coordination committee for investment, environment, and infrastructure under the Kuwaiti-Saudi Coordination Council, stated that these MoUs were finalized during the council's third meeting. They are the culmination of months of collaborative efforts and consultations, representing a significant addition to bilateral partnerships.
Al-Munifi elaborated that the first memorandum focuses on public-private partnership cooperation. It aims to facilitate the exchange of legislative, technical, and regulatory expertise to build capacities and improve the implementation of PPP systems in both nations. The memorandum also underlines the importance of continuous coordination through business exchanges, joint workshops, and participation in relevant conferences to achieve mutual objectives.
Additionally, Al-Munifi noted that the second memorandum, which pertains to science, technology, and innovation, signifies both countries' dedication to fostering practical cooperation. This will be accomplished through joint events, researcher exchanges, and potential collaborative scientific projects utilizing available technical capacities.