Cabinet okays inking 3 MoUs with Saudi Arabia
Saudi Arabia is one of the potential tourist markets for India from Middle East. Another MoU is on establishing a mechanism for making investment in infrastructure in India, according to an official release.
The MoU will be a step forward in engaging with the institutions of Saudi Arabia to attract a potential investment into the infrastructure sector in the country. It will lead to boosting infrastructure development in the country, creation of more jobs, growth of ancillary industries/ sectors which will lead to growth in GDP and overall economic prosperity.
The third MoU pertains to cooperation and mutual assistance in customs matters, said the release. The Agreement will help in making available reliable, quick and cost-effective information and intelligence for the prevention and investigation of customs offences and apprehending of customs offenders.
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