Saudi Arabia to issue economic business center law soon: minister

Saudi Arabia's Ministry of Commerce and Investment will soon issue a new law to regulate the Kingdom's economic business center, commerce minister Majid Al Qasabi said on the sidelines of Madinah’s Seventh Ministerial Conference.

“The new legislation will unify business procedures and combine all government licenses required under a single gate,” Al Qasabi said.

Makkah, Madinah and Jeddah’s chambers of commerce are also studying various methods to encourage investors and facilitate business procedures.

Next week, Saudi Arabia will announce the National Program for Combating the Commercial Concealment, developed by ten government authorities.

“The Kingdom has also directed the private sector stimulus packages to enable entrepreneurs and convert Saudi youth to entrepreneurs,” he added.