"Trade": 62 legislations to strengthen the commercial system since the launch of the Kingdom's Vision 2030

 "Trade": 62 legislations to strengthen the commercial system since the launch of the Kingdom's Vision 2030

 Shawwal 13 1442

​Over the past five years since the announcement of the Kingdom's Vision 2030, the Ministry of Commerce has worked on preparing and developing 62 regulatory and enabling legislation for the commercial sector in the Kingdom.

This came after an extensive and comprehensive study of the laws, regulations and regulations related to commercial issues in partnership with relevant international organizations, the private sector, specialists and the general public, in order to achieve the principle of transparency and participation in accordance with the best practices and international legislation.

The Ministry of Commerce was keen to carry out a comprehensive restructuring of commercial systems, regulations and regulations in order to achieve the Kingdom's vision 2030 and in line with the Kingdom's economic position and influence in global markets, with the aim of providing an attractive and fair investment environment that ensures the flow of value-added investments and guarantees the rights of investors and contributes to advancing the national economy.

The list of issued legislation included: the e-commerce system, the professional companies system, the commercial concession system, the chambers of commerce system, the system for guaranteeing rights to movable funds, the accounting and auditing profession system, the bankruptcy system, and the anti-cover-up system.

The list of legislations currently being developed includes the commercial system, the companies' system, the commercial registry system, the trade names system, and the consumer protection system.

It should be noted that the stages of completion of these legislations included studies to address the challenges facing the business sector and consumers, identifying opportunities and areas of growth that could be developed, studies of best international practices, workshops, and opening channels of communication with government and private agencies and the general public.


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