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The Supreme Council approved on Sunday the implementation of the recommendations of the National Counterfeit Trade Program, which aims to address coverage in all sectors and the development of regulations and related legislation, and to stimulate e-commerce and the use of technical solutions.
It also aims to regulate financial transactions in order to reduce disbursements and promote private sector growth, create attractive jobs for Saudis and encourage them to invest and find solutions to the problem of foreign ownership. in the informal sector.
The recommendations of the national program against commercial concealment include 16 initiatives, the most important of which is the approval by the Ministry of Trade and Investment to review the anti-concealment system and propose the necessary changes in the 90 days after the publication of the directive.
The program aims to find radical solutions to trade concealment by strengthening efforts, developing regulations and laws, and raising awareness among 10 government agencies.
The program will enable citizens to own and operate in a variety of trade and investment sectors and to create appropriate conditions while providing support, support and availability of various funding programs.
The program also requires companies to implement technical solutions that help regulate financial transactions and limit the outflow of funds in ways that harm the national economy.
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