Representatives of the Ministry of Investment review ministerial efforts to support business continuity during the Corona crisis
Al-Suwail: We communicate with all government agencies to support continuity and overcome challenges and support activities
The Ministry was keen to seek the views of investors and discuss with them solutions
Al-Saadi: Carrying out continuous awareness campaigns and questionnaires to know the challenges facing investors
Investor Services and Consulting agent and supervisor of the response center reviewed the Corona crisis at the Ministry of Investment Ibrahim Al-Suwaiil The efforts of the Ministry of Investment during the crisis of Corona (COVID 19) through touching on four topics or initiatives undertaken by the ministry through the crisis response center, and what has been done through it .. indicating that the ministry since the beginning of the crisis has established This center is to provide assistance to investors in the Kingdom and support business continuity during this period, as the center works to communicate with investors in the Kingdom around the clock, by allocating effective electronic communication channels and answering questions raised by investors.
He added during a meeting organized by the foreign investment committee in the chamber and managed by the committee chairman and member of the board Saadoun bin Khaled Al-Atish Al-Khaldi that the center has made a number of “virtual” seminars for the purpose of raising awareness for business continuity, since during the past months 5 seminars were organized, with the participation of 25 government agencies, during which he spoke 33 experts, attended by more than 500 people.
In the context of support and communication, the center received - according to Al-Suwail - 12920 calls from investors and the center made 13319 calls to follow-up and answer questions, provided about 2346 services, and completed 845 licenses
He stressed that the center has conducted a study to seek the views of investors in the Kingdom on the challenges that affect business, and included more than 1,800 investors, representing 11 investment sectors in the fields of industry, information technology, financial services, logistic services, and media.
He expressed optimism about the investment situation in the Kingdom during the first quarter of this year, and considered it a continuation of the successes achieved by the investment environment during the past year 2019, as the first quarter of this year was the most active period in the Kingdom since 2010, as the number of licenses for foreign investment projects reached 348 licenses (73% of which are entirely foreign projects), an increase of 19% over the similar period of last year, and 20 over the fourth quarter of last year,
The Executive Director of Investors Business Solutions Department, Majid Al Saadi, said that the Response Center is an initiative presented by the Ministry of Investment to overcome the challenges that investors may face due to the current situation, as well as facilitate their work, as the center communicates with investors in order to identify the challenges and difficulties they face in the investment process, And providing all the necessary information to them through the various communication channel.
In this field, the ministry represented by the center analyzes and sorting problems according to priority, coordinating efforts with the main government agencies, monitoring daily performance and preparing reports, providing information through the ministry platform, communicating information with ministries and other government agencies, conducting awareness campaigns, and sending questionnaires to know the challenges facing investors.
In order to reach positive results in this regard, the Ministry has worked to make the internal environment suitable for receiving auditors, and by virtue of the current circumstances, it has made its effort to solve technical problems among employees and strive to convert all services to become electronic, in coordination with all partners.
He pointed out that the center monitored 93 challenges facing investors, 58 incentives for investment, and dealt during the period of the Corona with 276 cases, which resolved 271 of them, which confirms the ministry's keenness to deal with the pandemic in a scientific way, it is sufficient that the ministry communicates with 35 different government agencies, all of which carry Initiatives to support business continuity, all geared towards this goal
He pointed out that the ministry prepared and published 151 lists and regulations during the past year, which, were able to solve many problems and challenges.
A member of the Chamber’s Board of Directors and Chairman of the Foreign Investment Committee Saadoun Al-Khaldi who ran the dialogue in both Arabic and English has made it clear that the pandemic was a major challenge faced by the Kingdom represented by all government and private agencies, and we hope to reach a better situation in the post-pandemic periods.
He expressed his hope to address the comments made by investors, especially in the eastern region, which includes in its aspects three ports, and five industrial cities, and it is the most attractive region for foreign investment, especially in the fields of industries related to oil, energy, and petrochemicals.
For this part, the member of the Board of Directors of the Asharqia Chamber Ibrahim Al-Sheikh expressed his hope to achieve more local and foreign investments in various economic activities, especially with the countries with which we have agreements to prevent double taxation.
