Saudi Arabia’s Ministry of Commerce and Investment identified 218 sensitive goods, and carried out periodic inspections to ensure the availability of commodities during the Covid-19 crisis, Commerce Minister Majid Al-Qasabi said.
At least SAR 218 billion ($58.1 billion) have been pumped into supporting the private sector and ensuring that commodities reach consumers during the pandemic.
Speaking during a forum to discuss the Saudi budget 2021 on Wednesday, Dec 16, Qasabi added that the Kingdom successfully mitigated the repercussions of the pandemic due to Vision 2030 programs and there was no shortage in food or medication.
The minister affirmed that Saudi Arabia’s early response to the crisis was marked by proactive planning and careful monitoring of stocks.
“We have set up proactive plans that were able to put an end to the effects of this crisis, and medicine and food remained available in the markets alike,” Qasabi confirmed.
Saudi Arabia’s initiative was welcomed and approved by all countries of the world, despite the trade tensions between some countries.
The Kingdom was able to ably guarantee the flow of goods and food, he stressed.
A key measure taken by Saudi Arabia in the face of the pandemic was supporting local investment backing the Kingdom’s food security, he noted.
The minister highlighted the flexibility of Saudi traders in the private sector, and how that helped to keep the supply chain afloat.
“The trading system transformed into electronic trade. In response, many traders shifted to supplying through electronic services to keep up with demand,” he said.
The private sector has effectively cooperated with governmental entities to make sure services were maintained throughout the supply chain and to keep prices at a reasonable level.
Qasabi highlighted that more than 36,000 online stores were set up during the pandemic, an increase of 171% compared to last year.
"The COVID-19 pandemic created several opportunities," he noted.
