RIYADH — Minister of Commerce Dr. Majid Al Qasabi met with the heads of commercial chambers from all regions of the Kingdom to discuss their priorities for the year 2024, based on the competitive advantages of each region. During a workshop organized by the Ministry, Al Qasabi emphasized the importance of synergy between the trade ecosystem and the commercial chambers. He highlighted the need for the private sector to keep pace with rapid changes in trade patterns, e-commerce transformations, consumer behavior, and to elevate business and services by leveraging technology for economic development. Al Qasabi stressed that the commercial chambers are expected to take the initiative in capitalizing on opportunities in promising sectors based on each region's competitive advantages. They are also tasked with empowering small and medium enterprises (SMEs), fostering entrepreneurship, aiding establishments in achieving financial sustainability, contributing to the development of systems, legislations, procedures, launching qualitative initiatives, and new projects. The meeting discussed the role of commercial chambers in achieving the targets of Saudi Vision 2030 and Riyadh's hosting of Expo 2030. It focused on contributing to the development of the commercial system, keeping up with key initiatives and projects, working on digital transformation and technical integration projects, and regularly addressing challenges faced by the private sector to transform them into initiatives that contribute to economic development. The meeting also addressed the opportunities and challenges facing commercial chambers in achieving their national targets and the importance of establishing partnerships with universities and related entities to institutionalize and develop business operations.
