Amlak Real Estate Newspaper Articles Abdulaziz Al-Issa writes: An investor's vortex.

Abdulaziz Alissa - Kingdom Budget 2023

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Despite the commendable efforts made by by some official bodies to facilitate investment procedures and overcome obstacles by reviewing laws and introducing regulations that save both time and effort, private-sector investors continue to suffer from bureaucratic red tape in some relevant departments within the respective government agencies. This is due to the large number of documents and paperwork required for transactions, such as land area requirements or permits requiring approvals from multiple government agencies, which leads to tedious processes and expenses that cost time, effort, and money for citizens wishing to enter the field of commerce and business.

With technological advances and the rapid development of systems aimed at simplifying procedures and reviews with government agencies and their associated technical bodies and the private sector, there are still transactions that investors struggle to complete due to the scattered nature of the required paperwork across numerous locations and agencies—despite the promotion of the «One-Stop Service,» this is compounded by the lack of, or absence of, information among employees or the agency to which the matter was referred, taking into account the severe congestion and the distances between departments, and the long lines to obtain or inquire about procedural information. The problem lies not only in preparing numerous documents but also in the sudden request for additional ones that are not listed among the requirements for completing the transaction, which burdens the investor or citizen wishing to consider investing and producing in any activity, as they are drawn into a cycle that is psychologically exhausting.

For example: When launching any economic activity, the investor must be aware of the requirements of other entities outside that activity and must review and pay the fees of those entities using different accounts and numbers, and the procedures require visiting several agencies, including the Ministry of Commerce, Chambers of Commerce, municipalities, Civil Defense, secretariats, the Zakat and Income Authority, the Labor Office, Social Insurance, the Ministry of Energy, Industry, and Mineral Resources, and agencies directly linked to the licensing process, such as the General Organization for Vocational Training, the Ministry of Media, the Ministry of Interior, Customs, and the Ministry of Education, in addition to visiting banks to update data, obtain account statements, and handle other banking transactions.

So where is the official responsible for small and medium-sized enterprises and what is their role, and what have they done for young people and citizens? We need a robust service to streamline procedures and encourage young people to seek out activities that facilitate trade and production, and they must continue to identify the real obstacles facing investors by reducing the number of required documents and granting more authority to the relevant departments to be knowledgeable about information and common and potential questions so that they can serve as a reliable reference for applicants, Supporting and encouraging the process of obtaining documents electronically and facilitating the issuance of visas for skilled workers and qualified personnel, which will have a positive impact on production in terms of both quantity and quality to support the economy and Vision 2030, and there is no excuse for any entity or official, under the pretext of the value-added tax, to fail to facilitate or serve investors.