These initiatives were integrated with the National Competitiveness Center and other relevant government agencies
Riyadh: The Saudi Center for Economic Business has announced the successful completion of 160 initiatives aimed at improving the investor journey.
This included the review of more than 150 regulations and over 600 updates to terms and requirements to facilitate the start and conduct of economic businesses in the Kingdom.
These initiatives were integrated with the National Competitiveness Center and other relevant government agencies.
The Minister of Commerce and Chairman of the Center’s Board of Directors, Dr. Majid bin Abdullah Al-Qasabi, confirmed that these achievements were made possible with the support of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al-Saud, and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince, Prime Minister of the Kingdom of Saudi Arabia.
Dr. Al-Qasabi stated that the Center’s efforts 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.
To raise awareness in the business sector about the impact of these reforms on facilitating the start and conduct of economic business, enhancing performance efficiency, and improving regulatory frameworks, in addition to raising productivity and competitiveness, the Saudi Economic Business Center has launched a campaign to discuss the reforms undertaken.
It is important to note that the center was established by a decision of the Cabinet 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.
Source : Zawya
