Riyadh – Mubasher: Saudi Arabia’s commercial registries for new institutions and companies increased by 27% and 24% quarter-on-quarter, respectively, in the first quarter of 2019, the commerce and investment ministry said.
The issued commercial registries for institutions reached 68,130 in the three-month period ended last March, up from 53,460 in Q4-18, while commercial registries for firms reached 4,940, compared to 3,970, the ministry added in a statement.
The rise was attributed to reforms and improvements which have been implemented by the kingdom over the previous period to create a business-friendly environment.
These reforms include trimming the period of establishing a company to 30 minutes, providing 62 various e-services, and expanding in providing customer services via centres.
