His Excellency the Minister of Commerce and Investment, Dr. Majid bin Abdullah Al Qasabi said on the occasion of the 2nd anniversary of pledging allegiance to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, (may Allah bless him), "I pray to Almighty Allah to grant success to the Custodian of the Two Holy Mosques, for the goodness and welfare of his nation and homeland, and may Allah crown his great endeavor with success toward the completion of the process of nation revival and construction."
H.E. Al Qasabi added "This great anniversary comes and MCI steps towards improving the legislative environment are being accelerated, through reviewing more than 30 Rules and Regulations, such as the commercial mortgage, professional companies, e-commerce and trade franchise."
H.E. the Minister said "among MCI priorities, we plan to strengthen competitiveness and to improve the business environment through the development and updating of more than 40 procedures to enhance the technical and procedural integration, beside opening the retail sector for foreign investment with full ownership."
H.E. Dr. Al Qasabi pointed out that this auspicious era witnessed the adoption of the strategy and the definition of small and medium enterprises, as well as the allocation of SR 4 billion to the major fund, also the establishment of Daring Capital Association to open new prospects for financing, in addition to organizing the women's entrepreneurship.
H.E. the Minister added" supporting national industries and services will be our priority, through the development of a comprehensive national strategy of the local content for developing and enhancing its competitiveness."
H.E. Dr. Al Qasabi pointed out that SR 200 billion has been allocated for four years to support the most promising sectors and domestic industries, besides setting up a comprehensive privatization program, which has already started after careful studies.