The Minister of Commerce and Industry HE Dr. Tawfiq AlRabiah gave a lecture at Alfaisal University to the students of College of Business. The presentation took place on Sunday, November 29th, 2015, and titled “How to Start a Business”. He addressed the benefits and incentives of the private businesses. He also stressed that the obstacle to the start a project in Saudi Arabia is not the capital, it is often the individual/entrepreneur. He gave many examples of successful projects showing that insisting on the achievement, spirit of challenge, and enthusiasm are the attributes for success in the new project/business.
The minister described the role of the Ministry of Commerce and Industry in supporting new projects, and that extracting a commercial register is being done in a very short period of time. Moreover, he praised the Ministers Council decision to establish a private authority for Small Businesses (SMEs) acknowledging the importance to support young people, their ideas and projects. He emphasized that new projects will be an important contributory for the national economy and for creating many job opportunities for the youth of our nation.
The Minister also pointed out that the investment in industry in the Kingdom is progressing well, and recorded a growth of 8% last year. Besides, he pointed out that the e-license is now issued in one day, and highlighted other several encouraging facilities.