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Asharq Al-Awsat
Asharq Al-Awsat
Business
Riyadh - Asharq Al-Awsat

Saudi Arabia Promotes Institutions’ Investments

The Saudi government seeks to facilitate the business environment for SMEs. (Asharq Al-Awsat)

Saudi Arabia issued a decision allowing establishments to engage as partners in all types of corporate commercial entities, in a step that aims at facilitating the business environment and contributing to the expansion of their income.

In a statement on Monday, the Saudi Ministry of Commerce said that the decision would enable companies to benefit from Saudi establishments’ expertise in various fields, explaining that companies could add an establishment as an electronic partner via a dedicated service in the ministry’s website.

Meanwhile, the Ministry of Finance, represented by the National Center for Government Resources Systems, and in cooperation with the Digital Government Authority (DGA), announced the launch of a system for electronic payment of government services fees.

The new service allows beneficiaries to process the payment of fees through a dedicated platform for each government agency, via payment methods such as Mada, Visa, MasterCard, and Sadad.

The system falls within the ministry’s endeavor to develop and regulate the financial infrastructure of government agencies and to facilitate payment processes by providing unified and integrated digital services, in line with the objectives of Saudi Vision 2030.

DGA Governor Eng. Ahmed Al-Suwaiyan said that the service was aimed at improving the customer experience and supporting the digital transformation process within the framework of building an integrated digital society of high quality and efficiency.

For his part, Deputy Finance Minister for Revenues Tariq Alshuhayeb said that the new system was developed in support of government’s efforts to promote digital transformation in governmental financial transactions, and came in accordance with the best international standards.

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