JEDDAH: The Minister of Commerce and Industry Abdullah Zainal Alireza announced yesterday that it would take only 24 hours to issue a commercial registration for any Saudi who is interested in entering the world of business. “If the issuance of the registration took 25 hours, I would want to be informed about it weather through e-mail or a letter,” the minister said, adding that this fast procedure was made to encourage the young Saudis to start a business.
The minister was speaking yesterday during his visit to the second round of the Business Youth Exhibition 2008, which was inaugurated Sunday evening by Prince Khalid Al-Faisal, the governor of Makkah province. The minister said that his ministry is currently working on decentralizing its licensing issuance and paper procedures that are mainly done in Riyadh.
“This would provide more facilities and save time to applicants who don’t live in Riyadh,” he said adding that after applying this system in Jeddah it would be implemented in the Eastern Province and then to the whole country. Nahar Houthan, manager of the exhibition, said that the exhibition’s participants were touched by Prince Khalid’s support and encouragement they felt during his visit to their booths.
He said the governor also gave a speech to young businessmen urging them to work hard.
“Prince Khalid said that this event has portrayed his optimism in the Saudi youth,” Houthan said.
The exhibition is being attended by more than 300 small and medium-sized businesses. The Jeddah Chamber of Commerce and Industry (JCCI) organized the event.
JCCI Chairman Saleh Al-Turki said 80 to 90 percent of the members of the Kingdom’s chambers of commerce are small and medium enterprises.
“Since they are the majority there became a need to give them all the possible support and facilities such as training and guidance,” he said. The event is held at the Jeddah International Exhibition Center and is open daily through Wednesday from 10 a.m. to 1 p.m. and from 5 p.m. to 10 p.m.
