Ministry of Trade and Investment The Ministry of Commerce and Investment has issued more than 1.2 million commercial records for institutions and companies until mid-December 2017, and more than 168 thousand commercial records for women during the same period.
Establishment of companies with a capital of 23 billion riyals
Ministry statistics showed that the total capital of companies that were established and companies converted to closed joint stock in 1438H amounted to more than 23 billion riyals, thus the growth rate in the capital of closed joint stock companies increased to 49% compared to 1437H, and the average capital of companies increased from 3 to 5 million riyals during the same period.
Ministry statistics showed that the total capital of companies established and companies converted to closed joint stock in 1438H amounted to more than 23 billion riyals, thus the growth rate in the capital of closed joint stock companies increased to 49% compared to the year 1437H.
The Kingdom achieved progress in the international ease of doing business indicators for 2018 following its implementation of many reforms and procedures that contributed to improving the business and investment environment and enhanced investor confidence, as the World Bank Group report ranked the Kingdom second among the best high-income countries, as well as the second among the G20 countries in terms of implementing reforms to improve the business climate among the top 20 reformers in the world.
The Kingdom of Saudi Arabia has achieved progress in the international ease of doing business indicators for the year 2018 after implementing many reforms and procedures that contributed to improving the business and investment environment and boosting investor confidence.
Meraas Center 74 e-services
The ministry launched a set of initiatives to improve the business environment and reduce the procedures for starting a business, where electronic linking with several government agencies, and launched the “Meraas” initiative and the unified service center for the “Meraas” initiative, which provides more than 74 electronic services for 16 government agencies in one platform.
Meraas Unified Service Center. The Ministry's e-services also reduced the steps from booking the trade name to extracting the commercial register to be done electronically in one step for institutions and three steps for companies, as well as linking with a number of government agencies so that it became possible to issue the commercial register, labor file, social insurance, zakat and income file through one electronic step, and the service also enables beneficiaries to issue the Chamber of Commerce affiliation certificate electronically, and the e-services included the possibility to amend or renew the commercial register by using the security verification mechanism with the Ministry of Interior and Absher service.
The e-services also included the possibility to amend or renew the commercial register through the use of the security verification mechanism with the Ministry of Interior and Absher service.
Initiatives to improve the business environment
A number of technical initiatives aimed at improving the business environment were also launched, most notably the “Access” service, which aims to facilitate communication between the owners of commercial establishments in the Kingdom and those wishing to communicate with them, whether individuals or commercial establishments, which will have a positive impact in supporting development and building investment opportunities between them, in addition to the e-authorization service, which aims to enable owners of commercial records for individual institutions to easily make authorizations electronically to complete the procedures of commercial registration services.The e-authorization service comes with the ability to amend and renew the commercial register through the use of the security verification mechanism of the Ministry of Interior and Absher service. The e-authorization service comes within a series of e-services launched by the Ministry to facilitate procedures and e-transactions for business owners and to achieve the Kingdom's Vision 2030 in cooperation with its strategic partner Thiqa Business Services Company.
Business Center. A comprehensive employee of the Ministry
<The Ministry completed the process of developing its services by establishing the Business Center in Riyadh, which provides all the services provided by the Ministry of Commerce and Investment to its customers such as: Commercial Registration Services, Companies, Trademarks, Trade Names, Precious Metals and Precious Stones Permits and other Ministry services.
The center applies the concept of a comprehensive employee. The center applies the concept of a comprehensive employee within a new and advanced work environment that relies on modern technologies that facilitate procedures and shorten time for customers. An advanced self-service area has been allocated, in addition to specific paths and groups for each service, and there is a specialized customer care team to answer inquiries and provide the necessary support to customers, and within the framework of empowering women and supporting them to accomplish the work related to their business activity and enhance their participation in various aspects of economic life, a separate center for businesswomen was equipped that provides all services.
