Saudi Arabia has signed a memorandum of understanding (MoU) with Algeria in the field of housing and infrastructure development.
The MoU, which aims to activate joint cooperation between the two sides, was signed by Saudi Minister of Housing Majid Al-Hogail and his Algerian counterpart Kamel Nasri.
The procedures for the signing were completed, virtually, in the presence of Prince Saud bin Talal, the undersecretary at the Housing Ministry's Agency for Housing Subsidy and Branches and an adviser to the Minister of Housing, Saudi Ambassador to Algeria Abdulaziz Al-Amireini and Algerian Ambassador to Saudi Arabia Ahmed Abdel-Sadouk.
Commenting on the agreement, Al-Hogail said that the MoU with the Algerian side aims to strengthen bilateral relations and enhance cooperation to create channels for the exchange of administrative and technical expertise in the housing sector field.
It also seeks to develop implementation programs to enhance the participation of entities and companies in the two countries to implement housing and infrastructure projects that achieve what serves the goals of the two countries in the field of housing.
The Saudi minister emphasized that the housing sector in Saudi Arabia receives great attention from the wise leadership and was given generous support from the government, which was reflected in the distinctive outputs and the increase in the ownership rate to 62 percent that is in line with the goals of the Kingdom's Vision 2030.
The Algerian housing minister underlined the importance of the agreement to strengthen relations between the two countries and hoped it would contribute to establishing partnerships in the public and private sectors between the two countries.
It will also help in the exchange of modern technologies in the field of housing and encourage investors in both countries to participate in the implementation of housing projects and infrastructure development, the Algerian minister added.