RIYADH — The Ministry of Economy and Planning (MEP) and the General Authority for Statistics (GASTAT) signed a Memorandum of Understanding (MoU) to enhance the use of data in the development of economic policies.

The MoU establishes a framework for data and knowledge sharing between the two partners, as well as sharing enhanced statistical, scientific, and economic analysis.

The agreement was signed by Eng. Ammar Nagadi, vice minister of economy and planning, and Dr. Fahad Aldossari, president of GASTAT.

Commenting on the MOU, Minister of Economy and Planning and Chairman of GASTAT Faisal Al-Ibrahim said, “Both the Ministry and GASTAT are committed to supporting the public and private sector in achieving the goals of Saudi Vision 2030.

“A deep understanding of our data is key to ensure we are pulling the right levers to drive the Kingdom’s economic diversification journey and facilitating economic growth for all.”

Al-Ibrahim added “This agreement is a key milestone in our strong, and essential, partnership. It will enable us to publish a range of statistics, indicators, and products to support and empower policy and decision makers as well as assist the public in understanding policy priorities.”

Dr. Aldosari said: “This agreement consolidates the framework of cooperation between the Ministry and GASTAT and ensures we are delivering access to high-quality and reliable data on which future decisions for developing procedures and policies that will help us achieve the ambitions of the Saudi Vision 2030.”

The MoU comes as part of the efforts of MEP and GASTAT to support the development of statistical work and provide a new statistical dimension in the Kingdom, by benefiting from scientific and knowledge expertise in a way that contributes to achieving the goals of the Saudi Vision 2030. — SPA