Commerce minister: Saudi Arabia is on track in trade and investments

Minister of Commerce and Investment Majid Al-Qassabi
Updated 23 September 2017

Commerce minister: Saudi Arabia is on track in trade and investments

RIYADH: Minister of Commerce and Investment Majid Al-Qassabi on Saturday said that the Kingdom is marching in a steady line in trade and investments which has resulted in a total of 7,827 foreign projects in the country.
Al-Qassabi made the statement to mark Saudi Arabia’s 87th National Day which was being celebrated by citizens and residents in all parts of the Kingdom.
The minister pointed out that the capital of licensed investment projects registered during the first half of 2017 increased by 130 percent, while 158 projects were licensed with a capital of SR3.258 billion ($868.7 million), compared to 127 projects with a capital of SR 1.392 billion during the first half of 2016.
“Work is underway to facilitate all procedures, and review legislation to stimulate the investment environment,” he added.
Congratulating King Salman and Crown Prince Mohammed bin Salman on the country’s National Day, Al-Qassabi said the precious anniversary will mark the beginning of the acceleration of bettering the legislative environment, business performance, system development, enhance technical and procedural integration, and support the investment environment.
“The system of bankruptcy, the commercial mortgage system, franchise system and e-commerce system have been already completed,” he noted.
The minister said his ministry set up a business improvement committee to launch the initiative for business practices, “Meras,” to improve the investment environment in the Kingdom
The “Meras” initiative aims to increase the contribution of the private sector to the Kingdom’s GDP, also to boost the national economy, for the realization of the Kingdom’s Vision 2030.
The main components of this initiative include “Meras” comprehensive service centers, “Meras” e-platform, consolidated access to business services, the interactive business startup guide, providing basic services from the private sector such as opening a bank account for the enterprise.
The ministry has also launched a business licensing guide for business activities, which, in its first phase, comprises 274 services provided by 26 government agencies.
As part of the integration with government agencies to improve business, he said that regulations were approved allowing foreign investors to obtain business visit visas within 24 hours and visit Saudi Arabia. It is also possible to issue immediate licenses for more than 200 activities from the Ministry of Municipal and Rural Affairs, which controls and opens the field of foreign investment to full ownership in the education and health sectors, he concluded.


All-female Saudi tourist group explores wonders of Tabuk

Updated 21 October 2019

All-female Saudi tourist group explores wonders of Tabuk

  • About 20 women from different parts of the Kingdom took part in the sightseeing trip to the province bordering the Red Sea

JEDDAH: Saudi Arabia’s first all-female tourist group has explored the environmental and archaeological wonders of Tabuk in the northwest of the Kingdom.

About 20 women from different parts of the Kingdom took part in the sightseeing trip to the province bordering the Red Sea.

“They were astonished to see such sights in their country, especially the area of Ras Al-Sheikh Humaid,” said Heba Al-Aidai, a tour guide in Tabuk who organized the trip.

“They did not expect to see such a place in Saudi Arabia. They looked speechless while standing close to the turquoise water of the sea. It is a truly breathtaking view.”

Al-Aidai and her colleague Nafla Al-Anazi promoted the trip on social media and attracted a group of homemakers, teachers and staff workers from all over the Kingdom, aged from 22 to over 50.

The tour was educational, too, and the women were told about the history of the places they visited. “They were taken to the Caves of Shuaib (Magha’er Shuaib), the place where Prophet Moses fled after leaving Egypt, and where he got married to one of the daughters of Prophet Shuaib, according to some historians. It was really a positive experience,” Al-Aidai said.

The visitors also explored Tayeb Ism, a small town in northwestern Tabuk, where there is a well-known gap in the towering mountains through which water runs throughout the year.

Al-Aidai said such trips aim to encourage tourism in Tabuk, and introduce Saudi tourists and other visitors to the landmarks of the region.