Minister of Commerce and Industry, Abdullah Ahmad Zaynal Ali Reza endorsed today the establishment, licensing and conversion of three companies with an estimated capital of SR 25 million. The Deputy of the Ministry for internal trade, Hassan Bin Fadl Aqil, in a press release issued here today, said that the Ministry endorsed the establishment of Jeddah International College Corporation as a closed joint stock company with a capital of SR five million. Its Founders subscribed to all the shares of the Jeddah-based company. The Ministry also approved conversion of Al Rajhi Company for Heavy Industries to a limited liability company. Its shareholding capital of SR 10 million is subscribed to, by all its partners. The company will be based in Jeddah. It also endorsed the conversion of Ijzala Company for Trade , Investment and Real Estate to a limited liability company with a shareholding capital of SR 10 million subscribed to, by all its partners. The company is headquartered in the city of Khobar. The approval of the establishment of companies comes within the framework of the State's policy aimed at promoting economic activities in various sectors and raising the competitiveness of the national economy in the face of challenges and regional and international competitions.
