Business & Money | Wednesday 23 December, 2015 3:27 am |

The Kingdom strongly supports the cooperative sector and efforts are underway to strengthen it so as to serve the national economy in an effective way, Prince Saud bin Salman, the honorary president of the Saudi Cooperative Societies, has said.

“It is well known internationally that the cooperative sector comes third after the public and private sectors. With God’s help, we will work with the support of Custodian of the Two Holy Mosques King Salman, the crown prince and the deputy crown prince, to enable this sector to play a key role in serving the economy. Many countries have achieved positive results through revitalization of the cooperative sector,” he said in a statement issued on Tuesday.
The Cooperative Society Council’s future projects will encourage the establishment of new associations in pursuit of the Kingdom to be among the top ten countries in the cooperative sector, he said. 

The council also seeks to create a state of integration and cooperation with the Gulf, Arab and international cooperative societies through participation in forums, conferences and exchange of experiences, he said. 
Prince Saud held a meeting with the Saudi Cooperative Societies Boards members earlier, during which they discussed the achievements and ideas for future work. Mohammad Al-Hammad was selected as honorary vice-chairman of Saudi Cooperative Council. Also during the meeting, a working group was formed among the council members to prepare a report for the year and to draft next year’s plans.