Today, Monday, August 27, marks the end of the deadline set by the Ministry of Commerce and Investment for submitting comments on the draft of the new amendments to the Chambers of Commerce and Industry Law, which it recently proposed. The Ministry invited interested parties to submit their opinions and suggestions regarding the draft via email (Chambersmci.gov.sa).

The Ministry clarified that the draft Chambers Regulation establishes fundamental changes to the system of chambers of commerce and industry in line with leading international practices, Among these amendments are the establishment of chambers based on administrative regions and the setting of criteria for establishing more than one chamber in a single region; renaming the Council of Saudi Chambers as the Federation of Chambers; restructuring the Federation’s Board of Directors; and activating the roles of the General Assembly, which is a fundamental pillar of governance. The draft regulation has adopted a mechanism for the annual evaluation of chambers, and it also seeks to restructure national and local committees in accordance with guidelines and standards that ensure the effectiveness and efficiency of their activities.

Key Amendments to the Chambers Law

1- Establishing chambers according to administrative regions.

2- Criteria for establishing more than one chamber in a single region.

3- Renaming the Council of Saudi Chambers as the Federation of Chambers.

4- Restructuring the Federation’s Board of Directors.

5- Strengthening the roles of the General Assembly.

6- A mechanism for the annual evaluation of the Chambers.

7- Restructuring of national and local committees.

8- Permission to establish companies in accordance with the regulations of the Ministry of Commerce.