RIYADH: Saudi Arabia’s Ministry of Commerce has set up a strategic roadmap for its chambers of commerce in 2024.
The directive emphasizes that entities must strategically invest in high-potential sectors and capitalize on regional diversification opportunities.
In a meeting held in Riyadh, attended by chamber heads, the Minister of Commerce Majid bin Abdullah Al-Qasabi discussed the pivotal role of chambers of commerce in achieving the objectives outlined in the Saudi Vision 2030, according to the Saudi Press Agency.
The discussions also encompassed Riyadh’s hosting of Expo 2030 and the active involvement of the chambers in advancing the commercial system.
Furthermore, the meeting emphasized the significance of aligning with key initiatives and projects, pursuing digital transformation and technical connectivity efforts, and issuing regular reports on challenges faced by the private sector.
These challenges are to be systematically addressed and transformed into initiatives that actively contribute to comprehensive economic development.
The meeting also addressed several issues, including the necessity for the chambers to forge partnerships with universities and pertinent authorities to enhance business endeavors.
During the meeting, Al-Qasabi emphasized that chambers of commerce should take the initiative to invest in promising sectors based on the competitive advantages of each region, empower small and medium enterprises, foster entrepreneurship, and help companies achieve financial sustainability.
Additionally, they need to contribute to the development of regulations, legislation, and procedures, and launch qualitative initiatives and new projects.
Moreover, the minister stressed the critical nexus between the trade system and chambers of commerce, emphasizing the need for flawless integration.
He urged the private sector to stay abreast of rapidly evolving trade patterns, e-commerce dynamics, and consumer behavior while strategically positioning themselves in response.
The minister strongly encouraged businesses to leverage the latest technologies to foster economic growth and innovation.
Among the attendees were Saad bin Othman Al-Qasabi, the governor of the Saudi Standards, Metrology, and Quality Organization. Eman bint Habbas Al-Mutairi, who serves as the vice minister of commerce, was also present. Sami bin Ibrahim Al-Husseini, the governor of the Small and Medium Enterprises General Authority, and Mohammed Al-Abduljabbar, acting governor of the General Authority of Foreign Trade, participated in the meeting as well.
Additionally, undersecretaries and branch directors from the Ministry of Commerce were in attendance.
