Ministry of Commerce - Saudi Arabia: Comprehensive Profile

Overview

The Ministry of Commerce (MC) in Saudi Arabia is a pivotal government body responsible for overseeing and regulating commerce and investment sectors within the Kingdom. Headed by Majid bin Abdullah Al-Kassabi, the Ministry's mission is to enhance the business environment, ensuring Saudi Arabia's sustained prominence in global commerce. The Ministry's headquarters are located in the Riyadh Province.

Leadership

Majid bin Abdullah Al-Kassabi

Majid bin Abdullah Al-Kassabi has been the Minister of Commerce since May 2016. He has an extensive background that encompasses roles such as Acting Minister of Media and Minister of Social Affairs, as well as Acting Minister of Municipal and Rural Affairs. His leadership extends beyond his ministerial duties, having served significant roles at notable organizations and pursuing strategic collaborations, such as the U.S.-Saudi Arabia Commercial Partnership.

Deputy Ministers

• Dr. Eman bin Habbas Al-Mutairi - Vice Minister of Commerce and significant contributor at the National Competitiveness Center.

• Abdul Aziz Saud Al-Duhaim - Assistant Minister of Commerce, contributing with over a decade of experience.

• Abdulsalam bin Abdullah Al-Mana - Deputy Minister for Business, known for expertise in business administration.

• Raed Al Suhaibani - Deputy Minister for Consumer Protection, focusing on consumer rights.

Professional Background of Dr. Al-Kassabi

• Served as the Head of Private Affairs Office for the Crown Prince.

• Chaired organizations like the National Competitiveness Center and the Saudi Standards, Metrology and Quality Organization.

• Holds a Ph.D. in Engineering Management and other higher degrees from distinguished universities, contributing significantly to strategic planning at the Ministry.

Strategic Objectives and Achievements

The Ministry of Commerce is committed to developing and implementing strategies for enhancing trade relations and investment opportunities, focusing on:

• Regulatory Responsibilities: Ensuring fair trade practices, consumer protection, and efficient commercial activities.

• International Relations: Actively strengthening trade relationships, underscored by dialogues with the United States for future trade prospects.

• Digital Transformation: Spearheading e-commerce growth and launching e-services to streamline business operations.

The Ministry has been recognized for:

• Fostering a fair and motivating business environment.

• Aligning with Vision 2030 for economic diversification and reduced oil dependency.

• Facilitating a 9.4% growth in Saudi Arabia's e-commerce sector as of 2023.

Competitive Landscape

The Ministry of Commerce operates amidst key players in regional industries:

• Alinma Bank, SABIC, and Al Hokair Group: Focused on financial, industrial, and commercial developments.

• Savola Group: A major competitor within trade and investment sectors in Saudi Arabia.

Market Position and Vision

Aiming for a leading position in regional commerce through:

• Implementing effective policies: Driving sustainable economic growth.

• Achieving high global rankings in commerce: Aspiring to excellence via transparency and efficiency in commercial activities.

Key Initiatives

• Commerce and Investment Enhancement: Developing strategies for boosting trade and creating a dynamic business environment.

• Open Market Policies: Reducing trade barriers and improving regulatory understanding through online engagement and comprehensive resources on their official platform.

By analyzing these elements, the Ministry's focus on strengthening Saudi Arabia's commerce infrastructure is clear, supporting its commitment to maintaining a competitive edge in the Middle Eastern market.