Middle-east Arab News Opinion | Asharq Al-awsat

Saudi Arabia Establishes Unified E-platform to Serve Investors, Entrepreneurs | ASHARQ AL-AWSAT English Archive 2005 -2017
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Riyadh – In a new step aimed at boosting the size of investment and business activities in Saudi Arabia, the Saudi Ministry of Commerce and Investment (MOCI) has been working on launching a unified e-platform to provide all services needed by investors and entrepreneurs for them to start their investing projects and business activities without the need to follow up with any government entity.

The new platform is expected to electronically connect all parties providing the services within the initiatives of the MOCI, unified comprehensive service centers, which is one of the ministry’s initiatives under the National Transformation Program (NTP) 2020.

The new system works on expanding by establishing comprehensive service centers in areas and cities where businessmen and investors need their services.

The ministry targets launching 15 centers in the coming period, and within the past five months, the MOCI inaugurated comprehensive service centers in Riyadh, Madinah, Dammam, Jubail and Jeddah.

This initiative is considered very important as it will contribute in enhancing the Kingdom’s level worldwide and boost the number of SMEs to increase their contribution in raising the GDP from 20 to 35 percent.

MOCI has updated its eight key initiatives under the NTP 2020 in order to boost consumer confidence, improve investment climate, enhance service quality and support the small-and-medium enterprises (SMEs).

The Ministry’s plan focuses on five strategic objectives, 18 portfolios, 42 initiatives—of which 36 will be implemented under the kingdom’s reform plan— and 171 strategic projects, it said in a statement posted to its website.

These developments come in line with MOCI’s approval on the “National Program to Combat Commercial Concealment,” which aims at eliminating commercial concealment that contributes in raising the level of unemployment spreading commercial fraud.