His Excellency the Assistant Minister of Commerce, Mr. Abdulaziz bin Saud Al-Duhaim, affirmed that the Northern Borders Region enjoys competitive advantages in priority sectors under Saudi Vision 2030, most notably energy, mining, logistics, tourism, and agriculture, and offers major investment and commercial opportunities.
During his participation in the Northern Borders Investment Forum, Al-Duhaim stated that the number of commercial registrations in the region has exceeded 16,000, noting that several promising sectors have witnessed growth, including transportation and storage, accommodation and food services, mining and quarrying, among others.
Within the legislative track aimed at enabling the commercial and investment environment, he indicated that the commerce ecosystem has reviewed and developed more than 110 legislations, most notably the Companies Law, Franchise Law, E-Commerce Law, Commercial Register Law, and Trade Names Law. He added that several other laws are in their final stages, including the Commercial Transactions Law, Consumer Protection Law, and the Distribution and Commercial Agencies Law.
Al-Duhaim explained that the Commercial Register Law has reduced the financial burden on establishments by abolishing the issuance of subsidiary commercial registers and limiting registration to a single commercial register per establishment at the Kingdom level, covering all of its activities.
He added that the Companies Law is one of the most important enablers of the commercial and investment environment, as it simplified requirements, facilitated incorporation procedures, and introduced a new legal form, the Simplified Joint Stock Company.
He also highlighted the Kingdom’s adoption of digital transformation across various sectors, noting that all business services are now available through the Saudi Business Center, which has provided more than 13 million services since its establishment.
Additionally, he stated that the Small and Medium Enterprises General Authority has launched services to support and empower enterprises, including the “Tomoh” program, which supports fast-growing enterprises by enabling them and connecting them with service providers and support entities.