This is to facilitate the Procedures of Issuing the Industrial Licenses
Proceeding from the desire of the Ministry of Commerce and Industry to facilitate and simplify the procedures for issuing the industrial licenses, as well as to improve the investment environment, the Ministry has announced the cancellation of the decision requiring factories to register 25% of the total funding capital in the Commercial Registration.
This step comes within the state policy to boost and enhance the economic activity, and it does reflect the Ministry`s interest to facilitate and simplify the industrial licensing procedures, and to remove any obstacles that may affect the start of practicing a trade activity.
It is worth mentioning that the decision obliging the factories to register 25% of the total funding capital came into force on 28.05.1437 AH, and based on the desire of the Ministry to overcome and eliminate all obstacles facing the industrial investors, therefore the said decision has been cancelled by MCI as from the beginning of the current week.