The Minister of Commerce and Industry, Dr. Tawfiq bin Fawzan Al-Rabiah, approved the establishment of 16 closed joint-stock companies during the recent period, with a total capital of 55.1 million riyals. The approvals included the establishment of Al-Nafea Building Materials Company with a capital of 1 million riyals, Al-Shams National International Energy Company with a capital of 1 million riyals, Munir Abdul-Khaliq Rafah & Sons Holding Company with a capital of 3.5 million riyals, as well as Madarat Al-Safi Investment Holding Company with a capital of 1 million riyals, and One Family Holding Company with a capital of 5 million riyals. The Minister of Commerce and Industry’s approval also included the establishment of Saad Ibrahim Al-Haddab & Sons Holding Company with a capital of 1 million riyals, Abdulrahman Abdulaziz Al-Bajadi & Sons Holding Company with a capital of 1 million riyals, A’anab Daniya Holding Company with a capital of 1 million riyals, as well as Al-Mamlakah Investment and Development Company with a capital of 1 million riyals, in addition to Jawatha Development Holding Company with a capital of 1 million riyals, and Muhammad bin Ibrahim Al-Qadi Holding Company with a capital of 1 million riyals. Among the companies approved for incorporation are the Community Environmental Recycling Company, with a capital of 15 million riyals; the Al-Sabeq Commercial Investment Union, with a capital of 3.5 million riyals; Diyar Al-Naeem Holding Company, with a capital of 1 million riyals; Al-Mohammadiya Union for Commercial Investment Company with a capital of 6 million riyals, and Al-Sharqiyah for Trade and Contracting Company with a capital of 1 million riyals. The Ministry of Commerce and Industry’s approval of the establishment of these companies comes within the framework of the state’s policy aimed at boosting economic activity across various sectors and enhancing the competitiveness of the national economy in the face of regional and international challenges and competition.