Identifying key issues in Saudi commercial sector for regulatory review: Report

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Private companies and institutions in Saudi Arabia are actively compiling a list of challenges facing the commercial sector, along with proposed solutions, in preparation for submission to the relevant authorities, Asharq Al-Awsat reported.

The newspaper noted that the National Commercial Committee within the Federation of Saudi Chambers urged its member companies and institutions to participate in identifying challenges related to the commercial sector and to propose solutions for review before presenting them to the authorities concerned.

These challenges will be submitted to various entities, including the ministries of Commerce, Human Resources and Social Development, Finance, and Municipalities and Housing, as well as the General Directorate of Civil Defense.

Other agencies involved include the Saudi Standards, Metrology, and Quality Organization (SASO), the Saudi Food and Drug Authority (SFDA), the Saudi Ports Authority (MAWANI), the Zakat, Tax and Customs Authority (ZATCA), and the Transport General Authority (TGA).

According to data available with Argaam, Saudi Cabinet approved the Commercial Register and Trade Names Laws that pave the way for ease of doing business and reduce the burdens on commercial establishments by requiring one record only per establishment and regulating the procedures for reserving names to protect and enhance their value.