Qassim’s private sector environment in focus during ministerial visit to region’s chamber

Private sector involvement in Saudi Arabia’s Qassim region took center stage during a visit by a top investment official to the province’s chamber.

Minister of Investment Khalid Al-Falih convened with investors and company leaders at the headquarters of the Qassim Chamber on May 15, where they discussed ways to enhance the regional investment environment and overcome obstacles, and also examined the role of the private sector in achieving the economic goals of Vision 2030.

Al-Falih emphasized that the Qassim region is filled with innovative investment experiences and initiatives, such as fish farming and feed manufacturing, encouraging these contributions to serve as a blueprint for sustainable investment nationwide.

In a post on his X account, Al-Falih shared his appreciation for the meeting with Qassim Gov. Prince Faisal bin Mishaal. He mentioned the regional governor’s directives and priorities for developing economic sectors by leveraging the region’s competitive advantages.

The minister added that the governor shared his aspirations to address challenges encountered by investors. Also, he said both discussed the ministry’s role in advancing investment opportunities, aiding the private sector, and resolving its hurdles.

Speaking during the chamber meeting, the minister clarified that major investment projects are dealt with through the fast-track program, which provides all necessary procedures to facilitate the project’s initiation and implementation. The program guarantees new investors to have their investment licenses processed within five days.

Meanwhile, the meeting addressed the needs and requirements for fostering an optimal investment environment, aiming to surmount barriers to economic activities. Additionally, discussions centered on offering incentives essential for attracting increased capital to the region.

The gathering also highlighted the crucial role of the private and entrepreneurial sectors in driving and maintaining commercial and economic activities in the region. It explored their impact on Vision 2030 goals, stressing the need for government-private sector partnerships to establish more investment entities and support nationwide incubators.

On the other hand, Abdulaziz Al-Humaid, chairman of the chamber, emphasized that Al-Falih’s involvement underscores his dedication to monitoring and meeting the requirements of the private sector.

He further noted that the minister’s ongoing endeavors to cultivate investment opportunities and foster favorable economic conditions align with the goals of Vision 2030, particularly in establishing a robust and sustainable investment environment.

The gathering was attended by the chairmen of the Onaiza and Al-Ras chambers, Khalid Al-Saikhan and Fayez Al-Shuwaily, respectively, as well as members of the Qassim Chamber’s board along with senior officials from the Ministry of Investment.