19/08/2020
Asharqia Chamber: The new anti-concealment system supports the structural changes taking place in the national economy and provides integrated and more in-depth handling for the phenomenon
The Chairman of the Board of Directors of the Asharqia Chamber, Abdul-Hakim bin Hamad Al-Ammar Al-Khaldi, said that the approval of the Council of Ministers on the day before yesterday, Tuesday, August 18, 2020, under the direction of the Custodian of the Two Holy Mosques and the Crown Prince, on the new system to combat concealment, but keeps pace with the requirements of Vision 2030, and supports the state of major structural changes Which the national economy is witnessing, and it provides integrated and more in-depth treatment for the more harmful phenomenon, which has long depleted the national economy and contributes to draining its sources and eliminating them from their roots, by confronting the stages that precede them and intensifying the penalties for the perpetrators with seizure and confiscation of funds through the use of modern technologies to prove their occurrence.
Al-Khalidi stressed that concealment is an economic phenomenon that enhances the practice of illegal trade and that the new system prevents these practices and positively affects the growth of the private sector, by creating a competitive environment that attracts Saudis to encourage them to legitimately invest, develop solutions for foreigners to systematically practice business, and supports the regulation of the commercial sector And investment operations in it, and it reduces the area of harmful practices in the national economy, pointing out that the system will stimulate establishments of all kinds, and protect consumers from the negative effects that the concealment produces, as it includes a set of proactive measures to prevent its occurrence.
For this part, a member of the Board of Directors, Bandar bin Rafi Al Jabri, said that concealment is a very complex phenomenon that has spread in many sectors, especially the retail and services sectors, and that it represents one of the biggest challenges facing the growth of the national economy, and that the approval of the Council of Ministers on the new system of concealment And what is involved in inclusive solutions to the phenomenon, whether by providing protection mechanisms for whistleblowers, the participation of the relevant authorities, or tightening the restrictions on the perpetrators of the cover-up, puts a comprehensive vision to eliminate the phenomenon, which enables citizens to invest in the local market according to the principles of fair competition, and we as a business sector comment on the system the decisive provisions it contains high hopes for achieving the desired goals to eliminate this phenomenon harmful to the national economy.
