The Law aims to enhance the value of companies, develop their activity and contribute to the service of the national economy. The system aims to enhance the value of companies, develop their activity and contribute to the national economy, reduce the cost of procedures, encourage business initiatives, enhance the Kingdom's leading position and competitive advantages, and encourage investments by entrepreneurs and small and medium enterprises.
The new system provides the framework for the implementation of the new Companies Law. The new system provides the appropriate legal framework for fair and sound practices of corporate governance principles that enshrine the concepts of institutional work, support the growth and continuity of economic entities, as well as improve the performance of enterprises and the integrity of commercial transactions, by applying sound and fair standards regarding transparency, disclosure, the role of shareholders' assemblies and boards of directors in formulating corporate strategies and their responsibilities for corporate activities, and the competencies and roles of supervisory and regulatory authorities over companies.
The Ministry of Commerce is responsible for the Ministry of Commerce and the Ministry of Trade. <The Ministry of Commerce and Industry has jurisdiction over all companies other than shareholding companies listed on the Saudi Stock Exchange, which are supervised and monitored by the Capital Market Authority (CMA).
