Saudi Council of Ministers Approves 'Cooperatives System' - Sarmad

The Saudi Cabinet, chaired by Crown Prince Mohammed bin Salman, approved the Cooperatives System during its meeting held on Tuesday in Jeddah.

Ahmed Al-Rajhi, Minister of Human Resources and Social Development, stated that the Cabinet’s approval of the new Cooperatives System represents a qualitative leap in empowering the sector, enhancing its competitiveness and sustainability, and boosting its economic and social contributions, thereby supporting the achievement of economic and social development targets.

The cooperative sector in Saudi Arabia is witnessing continuous growth, with the number of cooperative associations reaching 581, encompassing more than 75,000 members. These associations operate in diverse fields including agriculture, tourism, culture, housing, and other activities with significant economic and social impact, according to the Saudi Press Agency (SPA).