The Saudi Business Centre serves as a point of contact for Saudi investors, facilitating all business-related services as well as the processes for initiating, running, and ending economic ventures.
It was established by a Council of Ministers decision and is administratively linked to the Council of Economic and Development Affairs.
Saudi Business Centre Tasks
While each government agency continues to carry out its regulatory responsibilities and processes, the Saudi Business Centre is in charge of granting licenses, approvals, and permits to initiate, conduct, and terminate economic projects in collaboration with those agencies.
In addition to seven government agencies and more than fifty-eight liaison officers for numerous other pertinent agencies, the centre operates sixteen branches located in thirteen cities throughout the Kingdom.
Saudi Business Centre Goals within the Kingdom’s Vision 2030
The centre seeks to see a rise in the percentage of foreign investments as well as the participation of small and medium-sized businesses in the Kingdom.
Moreover, its objectives included expanding the Saudi economy and advancing electronic services.
Along with providing the opportunity to base decisions on data from the private sector and enhancing competition in the economic sphere through the services offered, it also aims to establish a secure atmosphere that will draw investors and diversify the Saudi economy.
Centre’s Platforms and Operations
The Centre registers people who conduct business with both governmental and non-governmental organisations and oversees the financial statement “Qawam” electronic filing programme. It also connects pertinent parties to the programme.
One of its channels, “Business Platform,” offers business services pertaining to economic business.
Using a single, all-inclusive electronic platform, the commercial mortgage system’s unified register of commercial mortgages and its associated procedures take place.
Additionally, the Saudi Business Centre introduced 68 guidelines via the “Business Platform” that addressed 14 economic sectors, including media, industry, health, and education.
The guide outlines the procedures and all relevant information for initiating activities and businesses.
Saudi Business Centre Roles
The centre’s goal is to improve the business climate so that entrepreneurs can operate more quickly and affordably, while also contributing to the expansion of the US economy.
Furthermore, by presenting business to all parties in a cogent and integrated manner, the Centre fulfils the goal of the National Speaking Programme, which is to facilitate the conduct of economic business.
Since its founding, the centre has offered the business community more than 2.5 million different services through its branches, and it has rendered 1.5 million services via its platform.
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