Sustainability the watchword for Riyadh Economic Forum

Updated 07 July 2019

Sustainability the watchword for Riyadh Economic Forum

  • Panel discussion focused on a study detailing the role of balanced economic development

RIYADH: The Riyadh Economic Forum held a panel discussion on a study detailing the role of balanced economic development in “Reverse Migration and Sustainable and Comprehensive Development in the Kingdom” at the chamber’s headquarters on Saturday. 

The head of the team supervising the study, Dr. Rushud Al-Kharif, explained that it aimed to identify the obstacles that prevent the achievement of balanced displacement rates of young workers from small towns to big cities.

It also aimed to improve the quality of life in smaller urban centers through an analytical survey of different regions, based on the comparative advantage of each region and determining their industrial and service resources.

He added that the importance of the study stemmed from addressing the problem of migration, resulting from imbalanced development, due to the large size of the Kingdom.

He also pointed out that because of this issue, cities expanded vertically and horizontally at a faster rate than at any previous time in the history of Saudi Arabia in light of population increases, putting pressure on services and resulting in social and security problems.

The seminar provoked lively discussion regarding the study and how to reach effective solutions.

The chairman of the board of trustees of the Riyadh Economic Forum, Hamad Al-Shuaieer, stressed that the “effects of reverse migration, and plans to achieve balanced development between big and small cities,” was an important guide for the future of the Kingdom as it seeks to diversify its economy away from over-dependence on oil in line with Vision 2030.

 


Saudi app fights fake promotions, discounts

Some stores raise the prices then claim they are offering discounts. (SPA)
Updated 30 September 2020

Saudi app fights fake promotions, discounts

  • Companies and online businesses can apply for a discount license and promote seasonal sales through the application

RIYADH: A new electronic app will now protect consumers against fake and illegal discount offers and promotions, said a spokesman for the Saudi Commerce Ministry.
The app will also let consumers check if sales are still valid and useable. If they are invalid, consumers can report violations directly to the ministry, he said on Tuesday.
The spokesman, Abdulrahman Al-Hussain, said that companies offering discounts are required to follow certain procedures. They must apply for a license, mention products covered by discounts, provide a list of product prices before and after discount, give a discount percentage and put a before and after prices on a product price tag, he said.
The e-discounts app also lists companies that have a license to offer discounts, and explains the types of discounts licensed by the ministry. The app can be accessed on smartphones.

HIGHLIGHT

The e-discounts app lists companies that have a license to offer discounts.

Another feature available on the app is the ability to search for consumables or companies and show the percentage and duration of discounts. It also allows consumers to find the location of a company through Google Maps.
“The ministry requires the companies to print the license of discounts and display it properly. For online stores, the license of discounts should be clearly shown on the website,” said Al-Hussain.
“Companies and online businesses can apply for a discount license and promote seasonal sales through the application. This service gives discounts, sales, and promotions more credibility,” he added.
Muhammad Al-Hamad, a former president of the Consumer Protection Association, said the ministry should double-check the prices before discounts and ensure there is a price tag showing the price and the value-added tax, as well as the discount percentage and price after tax.
“Some stores raise the prices then claim they are offering discounts. The consumer should search for the quality before the price and also ask if there is an aftersales service,” he said. “The consumer should also demand a receipt because this is the only proof showing that he or she has bought the product,” he added.