Saudi Arabia implements initiatives to improve business environment

Commerce and Investment Minister Dr. Majid bin Abdullah Al-Qasabi. (SPA)
Updated 11 January 2019
0

Saudi Arabia implements initiatives to improve business environment

  • Tayseer working with more than 40 government agencies as well as the private sector
  • Tayseer currently working on more than 300 initiatives that aim to improve the business environment

JEDDAH: In 2018, Saudi Arabia implemented a number of initiatives and reforms that aim to improve its business environment and enhance its competitiveness.
In this regard, the Executive Committee for Improving the Performance of Private Sector Businesses (Tayseer), headed by Commerce and Investment Minister Dr. Majid bin Abdullah Al-Qasabi, monitored and implemented initiatives and reforms to provide a stable and motivating environment for the private sector.
Tayseer works with more than 40 government agencies as well as the private sector, represented by the Council of Saudi Chambers, under one umbrella to empower and develop the private sector.
Tayseer follows the most important international reports in order to improve the Kingdom’s regional and global rankings. They include the Doing Business report issued by the World Bank Group, and the Global Competitiveness Report of the World Economic Forum.
Tayseer is working on more than 300 initiatives that aim to improve the business environment. Following the launch of the Meras platform, starting a business now requires only one step and one day. It used to require 17 days and 10 steps.
Also, business and commercial visas are issued within 24 hours of a mission receiving the request, and commercial delegations’ visas are issued within two days. Previously, the issuance of commercial visas took several weeks.
Business visas do not require an invitation letter, and are issued within 24 hours of a mission receiving the request. Commercial visas through visa service offices are issued within 24 hours. For commercial delegations, the duration for visa issuance has been reduced from 30 days to just two.
The time required to begin receiving electricity services has been reduced to nine days through a two-step process, and compensation mechanisms have been developed to address cases of service interruptions or delays.
Regarding trade, the single-window platform Fasah has been launched to facilitate customs clearance and import and export procedures.
The Saudi Center for Commercial Arbitration was established to settle disputes according to the best international practices.


‘I’ve been waiting to get to Saudi Arabia for years’: Akon tells Asharqiah crowd

Updated 23 March 2019
0

‘I’ve been waiting to get to Saudi Arabia for years’: Akon tells Asharqiah crowd

  • “First thing tomorrow morning, I’m headed to Makkah to perform Umrah” Akon said 
  • He entertained the crowd with some of his most popular hits at the Asharqiah Music Festival

DAMMAM: American rapper Akon captivated a packed crowd at the Asharqiah Music Festival on Friday, opening up the second night of musical festivities at Sharqiah Season with a special shout-out to Saudi Arabia.

“You have no idea, I’ve been waiting to get to Saudi for years, man,” Akon said, before launching into his song, “Gunshot.” Later, he told the crowd: “I’m seeing a tremendous change in Saudi Arabia here tonight."

At 8 p.m., under a bright moon on a beautifully cool night, Akon began his set, delighting fans who had spent over 10 minutes chanting his name in anticipation of his arrival.

He entertained the crowd with some of his most popular hits, including “Smack That,” “Mr. Lonely” and “Sorry: Blame It On Me.” And he wrapped things up with “I love you, Saudi... thank you for making me feel at home."

Backstage before the concert, Akon told Arab News how excited he was to be in Saudi Arabia for the first time. He was especially excited to visit one Saudi city in particular.

“First thing tomorrow morning, I’m headed to Makkah to perform Umrah.”