His Excellency the Minister of Commerce and Investment, Dr. Majid bin Abdullah Al Qasabi, has expressed his sincere thanks and appreciation to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Deputy Prime Minister and Minister of Defense, for the cabinet's approval of E-Commerce System.
H.E. Dr. Al Qassabi explained that the E-Commerce System represents a new historical stage in our national economy. This system strengthens its position and its ability to keep up with all the changes and modern trading patterns in the world. This system aims to enhance the reliability of business transactions, also to stimulate and develop e-commerce activities, besides protecting the consumers against fraud, deception or misleading, taking into consideration the preservation of all rights.
H. E. stressed the importance of e-commerce and its role in strengthening and enhancing the national economy in light of the great development and growth witnessed by the Kingdom of Saudi Arabia, which is one of the top 10 countries in the world, in terms of growth rate, which reaches more than 32% per year. H. E. pointed out that enhancing the e-commerce system is one of the most important objectives of the national transformation program, which contributes for the realization of the Kingdom's Vision 2030.
H. E. added that the Saudi wise leadership has paid great attention to e-commerce. Therefore, the Council of Ministers had approved earlier the establishment of an E-Commerce Board, comprising a number of government and private sector representatives, that are endeavoring to implement 39 initiatives for supporting e-commerce in the Kingdom.
Notably, the new organization chart of the Ministry of Commerce and Investment includes an e-commerce center, which is in charge of developing e-commerce transactions, and exerts the necessary motivation to make it keep abreast of the international best practices, and gives it the opportunity to coordinate directly with the e-commerce board. Thus ensuring the implementation of E-Commerce Center's decisions and initiatives.
The E-Commerce System regulates the relationship between shoppers and e-stores, besides enabling those who do not have a Commercial Registration to engage in trade activity and deliver goods and services to consumers, according to specific rules & regulations.
According to the E-Commerce System, the service providers are obliged and required to disclose their trade data, as well as the data of the goods and services provided to consumers, besides setting up terms and conditions that should be observed during the conclusion of electronic contracts. Thus guarantee the rights of all parties, relevant to the purchasing process, it does also protect the personal data of the consumer, it regulates as well the right of the consumers to return the goods, also it addresses the delay in delivering the products or services, It does also regulate and intensify the control on the e-commerce advertising market. This is to prevent fraud and manipulation. This system also enhances and strengthens the role of the concerned parties that give authorization to e-stores and digital platforms, that act as a mediator between the service provider and the online shopper.