RIYADH — The number of companies have grown by 24 percent in Makkah Province and establishments by 14 percent during the past three years, Minister of Commerce and Investment Dr. Majid Bin Abdullah Al-Qassabi said, attributing this result to the improvements and reforms the business sector has witnessed during the past period.

During his participation in a session at the 2nd Makkah Province Economic Forum, Al-Qassabi said that Makkah Province is witnessing noticeable growth in the total number of companies and establishments.

In this connection, 259,994 commercial registers have been issued during the past three years to 220,571 establishments, with a 14 percent growth, and to 39,423 companies, with a 24 percent growth.

The Ministry of Commerce and Investment has disclosed that Makkah Province comes second at the level of the Kingdom after Riyadh Province, in terms of total number of companies and establishments. Furthermore, Makkah Province has 25 percent of the total existing companies and 23 percent of the total establishments in the country.

It is noteworthy that during the past period, the Ministry of Commerce and Investment has carried out many reforms and improvements in the business environment so as to facilitate the beginning of commercial activity.

The ministry has made it possible to establish a company in 30 minutes, provided 62 e-services, and expanded in the model client services centers under the concept of the comprehensive employee.

The ministry recently issued decisions to empower companies. Most prominent among these are: cessation of issuance of subsidiary commercial registers for firms that practice the same activity in the same province, and amendment of the commercial registers and companies regulations.

The ministry has also enabled the holding of general assembly and board of directors meetings for closed joint stock companies without the need for prior approval from the ministry.

It has enabled the issuance of commercial registers electronically.

All the authorities related to starting any business have been linked to “Miras” platform that enables the service seeker to avail of 112 e-services provided by 21 government authorities. – SPA