An Indicator to be created to Periodically Measure the Percentage of Suspected Commercial Cover-up Cases
According to the Honorable Supreme Royal Order, a Ministerial Committee to be established to supervise the National Program for Combating the Commercial Concealment, and to propose solutions and initiatives that would contribute to combating and eliminating the phenomenon of commercial cover-up.
The concerned committee shall also supervise the implementation of initiatives and develop indicators to measure the performance of all concerned authorities, as well as it follow up the commitment and the implementation of all the recommendations issued in this regard.
The Supreme Royal Order affirmed that the Saudi Authority for Data and Artificial Intelligence would undertake the task of creating an index to measure the percentage of suspected cases of commercial concealment, and to be updated periodically according to the data received from the concerned authorities.
The Supreme Royal Order also stipulated that the Ministry of Commerce, the Ministry of Human Resources and Social Development, the Saudi Arabian Monetary Agency, the General Authority for Zakat and Income and any other authority, to be specified by the Supervisory Committee, shall undertake the tasks of providing the Saudi Authority for Data and Artificial Intelligence with the necessary data needed for the relevant indicator to measure the suspected cases of cover-up on a quarterly basis.
The Supreme Royal Order stipulated as well on directing the Ministry of Municipal and Rural Affairs to develop a plan to oblige all grocery stores and food supply centers to adhere with the updated municipal conditions and requirements for grocery and food supply centers, and to ensure the commitment and implementation within the specified time frame, besides preparing an indicator to measure the commitment of such sector, and to report the Ministry’s actions in that regard to the Council of Economic and Development Affairs Within 60 days.
Notably, the following Ministers have been added to the membership of the Supervisory Committee for Combating the Commercial Concealment, which is chaired by His Excellency the Minister of Commerce: H.E. the Minister of Transport, H.E. the Minister of Environment, Water and Agriculture, and H.E. the President of the Saudi Authority for Data and Artificial Intelligence.
It is worth mentioning that the National Program for Combating the Commercial Concealment had been established with the aim of addressing and treating the commercial concealment in all sectors, besides developing the necessary relevant regulations and legislation, as well as stimulating e-commerce and the use of technical solutions.
The National Program for Combating the Commercial Concealment is endeavoring to control and organize the financial transactions to limit the transfer of money abroad, also this program strives to boost and promote growth in the private sector, besides creating a competitive environment that attracts the Saudi citizens and encourage them to engage in investment, also to find solutions to the problem of illegal foreign ownership in the private sector.