By Innovation-sa on February 28, 2019 in News
Saudi Arabia is undertaking several measures to push reforms to boost its private sector. An investment workshop titled “The key reforms that serve investors” hosted in Dammam by the Eastern Province Chamber highlighted the improvements to existing procedures and the new initiatives that are helping to cut bureaucracy and make it easier to do business in the Kingdom. The event focused on stakeholders who promote the national economy and bring in global investments to the country.
The chamber’s initiative ‘Tayseer’, which is in charge of improving the performance of businesses in the private sector, has partnered with 40 government bodies and launched 300 initiatives, of which 136 have been completed and 167 are still in progress. These programs have been designed with the aim to improve the Kingdom’s ranking in international indicators, attract national and foreign investments and improve the private sector’s contribution to the GDP, said Fahd Al-Shaalan, a member of Tayseer committee.
Thanian Al-Thanian, a member of the General Customs Authority noted the role played by the authority in decreasing the number of import documents from twelve to only two and export documents from nine to two. The integrated electronic environment created by the authorities helped in promoting transparency of imports, exports and electronic connectivity between government authorities and the private sector.
Arab News – 26 February 2019