Saudi issues regulations of national, sectoral committees in commerce chambers

Riyadh city

Minister of Commerce Majid Al-Kassabi decided to issue the regulations of national and sectoral committees in the chambers of commerce, to be effective from their publication date in the Official Gazette Umm Al Qura on Dec. 8.

Under the regulations, the existing national and sectoral committees should reconcile their status within a maximum of six months from the effective date of the regulations.

The committees aim to care for and follow up on the common interests of the business sector, as well as enhance the sustainability of commercial establishments at the national and sectoral levels.

In addition, they are to identify the challenges of the private sector and design proper solution models to address them.

The committees will also encourage business owners to establish new companies and entities to take advantage of the opportunities and comparative advantages of the regions and governorates.

They will also support business alliances and encourage mergers and acquisitions.