MC

 

H.E. the Minister of Commerce and Investment, Dr. Majid Al-Qasabi, affirmed that the State considers youth empowerment, support and motivation a top priority. H.E. called on the youth committees to communicate with the Ministry with their proposals and visions and develop a plan of action in this regard. H. E. pointed out that all the decisions taken by the State are in favor and for the interest of the country, citizens and future generations. This comes during H.E. meeting with entrepreneurs in the Youth Business Forum organized by the Chamber of Commerce and Industry in Riyadh.

H. E. Dr. Al Qasabi pointed out that there is a rapid movement and action in all sectors of the state aimed at improving the business environment and re-engineering the procedures to facilitate and ease practicing    business and to eliminate the bureaucratic performance that slows down the work in the government sectors. H. E. called on the youth business committees to communicate with the Ministry with their proposals, ideas and visions that may contribute to the development of Business and investment environment.

H.E. Dr. Al Qasabi revealed that the State's intention is to build a strong relationship with the private sector, based on cooperation and harmony between the public and private sectors to create an attractive working environment and stimulate the private sector to pump more investments in various vital fields. H.E. stressed that the state does not compete with the private sector and that the state is adopting large projects such as the Red Sea project and the project of Neom. These projects aim to make comprehensive development in the targeted sectors, pointing out that there is a committee to consider the development of criteria and standards for government authorities that are planning to establish companies. The most important conditions to be included in such standards that they should not compete with the private sector. H.E. added that the state is seeking to give incentives and to empower the private sector, also the state is leading giant projects, also starting and developing new trade activities that would create job opportunities. "

H.E. Dr. Al Qasabi stressed that the government and all its sectors are working to develop, support and stimulate the small and medium enterprises sector, as this sector is very important in improving and developing the local economy and providing job opportunities for male and female young people. He pointed out that there is a tendency to establish a specialized bank to support small and medium enterprises, in addition to the financing solutions that the state is seeking to provide to support this vital sector.

H.E. the Minister said that allowing foreign companies to invest in the Saudi market did not come haphazardly, but as a result of in-depth studies, which confirmed that there is great value in attracting value-added foreign companies. This will give the Saudi market greater vitality and give Saudi youth the opportunity to obtain high-level training and jobs, stressing that the Saudi market will not be opened to all foreign companies, but will be exclusively for foreign quality companies, which represent value added to the National Economy.

At the end of the meeting, H.E. the Minister answered the questions raised by the audience of young businesswomen and businessmen, in addition to some questions included in the program “Ask the Minister of Commerce”, which focused on the services provided by the Ministry to motivate and support the Saudi youth and entrepreneurs.