The Saudi Ministry of Commerce and Investment (MCI) on Tuesday issued new guidelines for licensing businesses, including procedures required for licensing 274 commercial activities under the supervision of 26 government authorities, in a step that would develop the business environment in the kingdom.

There are confirmations that this guide will be regularly updated for the purpose of assimilating all activities in addition to engineering and developing a number of governmental procedures.

According to the ministry’s statement on Tuesday, the upcoming phase will witness launching an edition of the guide in a smart electronic interactive method under the framework of Meras initiative.

Minister of Trade and Investment D. Majid bin Abdullah al-Qasabi stated that the guide is based on Saudi Vision 2030 and the continuous efforts of government bodies to achieve this vision. He added that the positive transformation will be visible at the level if these government bodies and the Saudi economy and community within a short period.

“In order to establish a competitive economy in the 21st century, we need to change the way we perform our affairs. Commerce needs to become easier, quicker and more efficient to support the economic regime,” Qasabi declared.

Further, the ministry clarified that the guide sheds light on the licensing mechanism to get the services provided by various government authorities and institutions.

These developments coincide with MCI’s latest announcement of launching Meras initiative that aims at facilitating the practice of commercial and investment activities in the kingdom, as well as enhancing the business environment and creating a competitive one that attracts domestic and foreign capitals.