Arriyadh Development Co. — Regulatory Filings 2021

Nov 30, 2021

Arriyadh Development Co. announces signing a Memorandum of Understanding with Ministry of Environment, Water and Agriculture

4150 · 30/11/2021 15:24:05 · Announcement #65792 · View on Saudi Exchange

Arriyadh Development Co. announces signing a Memorandum of Understanding with Ministry of Environment, Water and Agriculture

Element List	Explanation
Introduction	Riyadh Development Company announces the signing of a memorandum of understanding with the Ministry of Environment, Water and Agriculture
Memorandum Signing Date	2021-11-30 Corresponding to 1443-04-25
Counterparty	Ministry of Environment, Water and Agriculture
Memorandum Subject	Determining a joint framework between the two parties to develop the management and operation of the construction market for wholesale vegetables and fruits in Riyadh, to be a model market, as well as studying the possibility of establishing a partnership between the two parties to implement similar future projects for public interest markets, discussing their terms, provisions and scope during the period of the memorandum, in a manner that achieves the interest of the public interest markets in the Kingdom Saudi Arabia and the interest of each party.
Memorandum Duration	One year
Related Parties	There are no related parties
Financial Impact	It's not available now
Additional Information	This memorandum comes based on Cabinet Decision No. (712) dated 09/11/1441 AH, regarding the transfer of a number of competencies from the Ministry of Municipal and Rural Affairs (formerly) to the Ministry of Environment, Water and Agriculture, as it represents opening new horizons in investing in public interest markets at the level of The Kingdom and this partnership comes in line with the Kingdom’s Vision 2030 in achieving sustainability in the development of the food production system.

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