16/02/2022
With the expiry of the corrective period of the commercial cover-up
Al-Raziza: A new stage in which the Saudi economy is heading to new horizons
The Chairman of the Asharqia Chamber Badr bin Suleiman Al-Raziza said that the expiry of the deadline for correcting the commercial cover-up on Wednesday, February 16, 2022, heralds the beginning of a new phase in which the markets are heading to the right path, during which many negative phenomena in the number of economic activities are eliminated, which has caused the emergence of cases of unfair competition and other phenomena created by commercial cover-up.
He urged Al-Raziza to seize the opportunities created by the deadline and called on those wishing to enter the commercial activity to take advantage of the new conditions and abide by all the standards, rules, regulations, and legislation of the markets, stressing that the anti-cover-up system, which was approved by the state under the guidance of the Custodian of the Two Holy Mosques and his trusted Crown Prince, had an impact. A significant positive in providing integrated treatment for the phenomenon most harmful to the national economy, and contributed to drying up its sources, by addressing the preceding stages and toughening the penalties for perpetrators by seizure and confiscation of funds through the use of modern technologies.
The Chairman of the Asharqia Chamber praised the efforts made by the Ministry of Commerce through the anti-cover-up program over the past period, to confront this phenomenon by striving to educate citizens about its economic, security, and social damages to the country, as well as their approach to the views of business owners, their requirements and needs to translate them into decisions and procedures on the reality.
Al-Raziza pointed out that the Asharqia Chamber played a tangible role in participating in the state’s efforts to eradicate the phenomenon of commercial cover-up, by establishing a committee to combat cover-up, which had the membership of a group of senior businessmen in the region, and also opened an office in its headquarters to receive requests to correct the status of violators of the anti-cover-up system. In the region throughout correction, and held many events and programs to keep pace with the efforts of the state to eliminate cover-up.
