RIYADH — Minister of Commerce Majed Al-Qasabi announced that as many as 600 updates to the terms and requirements, as well as the review of 150 laws and regulations to facilitate the start and conduct of businesses in 17 economic sectors have been completed at the Saudi Center for Economic Business. These initiatives were integrated with the National Competitiveness Center and other relevant government agencies.
In a tweet on his account on the X platform, Al-Qasabi said that these updates were made in integration with government agencies that provide their services to the business sector with the aim of facilitating the journey of investors in the Kingdom.
Al-Qasabi stated that the efforts of the Saudi Center for Economic Business have contributed to the development of legislative, procedural, and technical initiatives across 17 economic sectors, in collaboration with 112 government agencies concerned with the business sector. “Work teams, which included more than 280 government representatives, were formed to achieve this. The business sector was also engaged to gather their views and opinions during the work of improving the investor journey and re-engineering associated procedures,” he said.
It is noteworthy that the Saudi Center for Economic Business was established by a decision of the Cabinet five years ago to make the Kingdom one of the leading countries in the world, regarding the quality, smoothness, and efficiency of government services directed to the business sector. The center is linked organizationally to the Council of Economic and Development Affairs (CEDA).
The center works on a number of important roles to raise the quality, smoothness and efficiency of government services directed to the business sector. These include most notably the proposal to develop policies and procedures in integration with the relevant government agencies, as well as to review and re-engineer them to be more concise and less expensive, in keeping with international best practices to achieve an attractive business environment that enhances the growth of the national economy
Read the full article here