An economic gathering revealed the formation of a government committee that includes the Capital Market Authority, the Ministry of Commerce, the Small and Medium Enterprises Authority, and the Saudi Tadawul Company to find incentives for companies to list in the Saudi market and contribute to the listing operations.
The Federation of Saudi Chambers of Commerce and government and private agencies are leading constant efforts to motivate private sector companies to list in the Saudi financial market.
The efforts seek to raise transparency levels and support the sustainability and profitability of companies’ businesses, in addition to consolidating the position of the Saudi financial market and enhancing its contribution to the national economy.
A workshop entitled, “Listing in the Tadawul Financial Market”, was held at the headquarters of the Federation of Saudi Chambers of Commerce in Riyadh on Monday, in the presence of the Federation’s President Ajlan Al-Ajlan, the CEO of the Saudi Tadawul Group, Eng. Khaled Al-Hussan, the heads of the national committees and business owners, in a move aimed at supporting the government’s trend to motivate national companies to list on the financial market.
Al-Ajlan underlined the importance of the role of the private sector in the national economy and the creation of possible initiatives and programs for the sustainability of national companies, in cooperation with all relevant authorities, including the Saudi Tadawul.
A memorandum of understanding was signed between the Federation of Saudi Chambers of Commerce and the Saudi Tadawul, which aims to promote coordination and cooperation between the two sides, exchange information and work on capacity building.
Meanwhile, the Riyadh Chamber of Commerce and Industry disclosed a survey issued by the Business Support Sector Observatory, saying that Saudi Arabia has become one of the largest global markets in the use of e-commerce transactions, noting that the increasing availability of the Internet and social networking sites has led to an increase in e-commerce opportunities in 2021.
