His Excellency Dr. Majid Al Qasabi, Minister of Commerce and Investment of the Kingdom of Saudi Arabia, has issued the following comment on Royal Decree No. (A / 38), which establishes a supreme committee combating public corruption:
“I would like to assure all companies and institutions working in the business sector in the Kingdom that combating corruption, eradicating its sources and preventing waste of government funds contribute to the sustainable growth of the Saudi economy and increase the chances of success for local and foreign companies and institutions.
These measures are important to the economy in ensuring stability and protecting opportunities in the long term, while also achieving a healthy climate for all investors in the Kingdom.
The Government of Saudi Arabia is fully committed to realizing its Vision 2030 strategy, which is based on promoting the values of transparency and integrity, combating corruption and achieving justice.
Since the supreme anti-corruption committee was established by a Royal Decree on November 4, 2017, a number of princes, former ministers and prominent businessmen have been questioned and put under investigation.
During this whole process, the rights of individuals and legal entities, public funds, and private companies and institutions, including those owned by some of the accused and detainees, will be respected and accorded full protection under the law.
The ongoing procedures and investigations undertaken by the supreme anti-corruption committee will not affect ongoing business or projects. Normal business activity will continue along the path of growth, boosting the national economy and creating more job opportunities for our citizens.
I would also like to stress that Saudi Arabia is now regularly highlighted as one of the best places in the world to do business.
The World Bank Group’s recent report on the Kingdom showed unprecedented progress in indicators of the ease of doing business, after the implementation of many reforms and procedures that have contributed to improving the business and investment environment, as well as investor confidence. The report also referred to the Kingdom’s ranking among the top 20 reformist countries in the world, and the second among the best high-income countries and G-20 countries in terms of implementing reforms to improve the business environment.”