Saudi cabinet approves setting up e-commerce council

Saudi Arabia’s cabinet on Tuesday approved setting up the E-commerce Council, chaired by the minister of commerce and investment.

Members of the council will include three government representatives and three private sector representatives for a three-year term.

The cabinet also decided to transform the Bureau of Capital and Operational Spending Rationalization into the Spending Efficiency Achievement Center, and has approved its regulations.

Both decisions were based on recommendations by the commerce minister and the Council of Economic and Development Affairs.

Earlier today, the cabinet approved a 28-clause e-commerce system.

Through the Bureau of Capital and Operational Spending Rationalization, the Kingdom was able to save around SAR 12 billion in the first quarter, with accumulated savings reaching SAR 68 billion.