The generous royal decisions issued last Thursday by the Custodian of the Two Holy Mosques King Salman bin Abdulaziz, may God protect him, came to the delight of every citizen, as they targeted an important sector: the private sector, enhancing the competitiveness of a number of segments of the national economy, developing its products, improving the business and investment environment and facilitating their implementation in the Kingdom, which stems from the ambitious and comprehensive Vision 2030 for the Kingdom.
The decisions issued by the Custodian of the Two Holy Mosques
The decisions issued by the Custodian of the Two Holy Mosques and Judge <span class="Apple-converted- to stimulate the private sector with 72 billion riyals based on the proposal of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister and Chairman of the Council of Economic and Development Affairs, where this amount was approved for a number of initiatives, including what is directly or indirectly related to the real estate sector, such as the subsidized housing loans initiative with more than 21.323 billion riyals, the initiative to stimulate construction technology with 13.870 billion riyals, the initiative to support projects with 10 billion riyals, the initiative to support troubled companies with 1.5 billion riyals, and the mega investment initiative with 5 billion riyals.
<However, there are other obstacles facing those wishing to invest; the regulations and procedures required of the investor extend to a number of government agencies and their bodies and some private sectors, and their locations are scattered in the city or may extend to other cities, accompanied by crowding and long hours of waiting, in addition to poor information about the procedures among the specialized staff, as well as the lack of an easy system in which the investor can find the answer to his inquiries, All of this burdens those wishing to invest and enter the productive sector due to the vortex of bureaucracy, in addition to the material, procedural, coordination and psychological consumption, as procedures are scattered here and there in a number of ministries and various authorities related to issuing licenses, which causes a waste of time and effort for the investor, and constitutes a repellent and unmotivating environment for investors.
The Small and Medium Enterprises Support Authority must create incentives for national institutions and companies wishing to enter the productive sector and provide facilities for them to start their projects with ease and ease and assume its responsibility to serve the employer and remove those obstacles and open the door to complaints and listen to employers and their suffering in practicing their business.
