The designated Minister of Information, Majid Al-Qasabi, cut off the speculation surrounding dairy prices, following the decision of some local companies to raise their prices by nearly 30 percent.
The minister attributed, in response to “News 24In this regard, the concerned state agencies understand the belief that the price lists in the local markets are “controlled,” referring to the control mechanism implemented by the regulatory agencies on the prices of commodities in the markets.
However, Al-Qasabi added, during his speech, and linked the rise in emergency prices in the local market to the cost of shipping fees and other factors.
Minister Al-Qasabi reaffirmed the follow-up of markets and prices, guaranteeing price quality, product abundance, and fair competition, and that the state takes into account and is keen to enable the Saudi national product, and works to support it in commercial expansion, and looks at the same time to confront the existence of any breach of fair competition, and to On this basis, the concerned authorities are working to intensify the monitoring rounds, demanding at the same time to report any violations in price or quality indicators and the like.
Some dairy companies had raised the prices of their products by varying rates, which caused reactions in the street, which demanded an end to the price index, work to control it, and prevent any company from overstepping it.
The designated Minister of Information also answered a question by “News 24Regarding small and medium enterprises, he said that they are the backbone of the economy and that 99% of the total commercial enterprises in the Kingdom are small or medium enterprises.
He explained that with regard to empowerment and business start-up, the Kingdom achieved first place in the ease of starting a business, and financing. There is no doubt that within the vision, the Kingdom established a bank for small and medium enterprises that contributed to supporting and raising the guarantee program, which partnered with banks to raise the volume of lending to this category.
He added that the volume of lending amounted to more than 25 billion riyals last year only for this category, and as a result, the number of establishments increased by 35% to reach 100,000 establishments. He called on entrepreneurs to visit the Saudi Business Center, and there is a digital platform to benefit from.
Al-Qasabi said that the Kingdom achieved the first place among the G20 countries as the highest growth economy in 2022, which is the fastest growth rate during the past 11 years, in addition to achieving the first place in the world in the index of ease of starting a business, and the first place in the world in the provision of humanitarian aid and relief. And second in the world in the cybersecurity index and in the 2022 Competitiveness Report.
He pointed out that the Kingdom has hosted 5 major international sporting events since the beginning of 2023, expressing his pride that the Kingdom has become the focus of the world’s attention and a global destination in all political, economic, technical, cultural and sports fields.
With regard to the import of cars, he stressed that importing them is not limited to agents, as he explained that he had communicated with heads of companies to increase the production capacity of cars, and obligated agents to give priority to individuals and reduce the share directed to car showrooms, explaining that individuals and showroom owners can import.
He added that the problem became evident with the Corona pandemic, as these global challenges moved to car factories, which led to a decrease in production despite the continuity of demand, in addition to the challenges represented in the supply chains of shipping and production.
Al-Qasabi stated that the market governs the prices of products, indicating his rejection of unfair practices that prejudice commercial competition, and the ministry’s intensification of its monitoring efforts on markets.
He stated that more than 95 billion riyals were loaned to small and medium enterprises, increasing their number by 35% in just one year, indicating that this category of commercial establishments represents 99% of the total number of establishments in the Kingdom.
video | Acting Minister of Commerce and Information: The market controls product prices and we support the national product to help it expand#Conference _ of _ government _ communication#news pic.twitter.com/bKZIe9XKug
– Al-Ekhbariya channel (@alekhbariyatv) February 13, 2023
video | Acting Minister of Commerce and Information: I personally communicated with the heads of companies to increase the production capacity of cars..and we obliged agents to give priority to individuals #Conference _ of _ government _ communication#news pic.twitter.com/cgP99N3l5P
– Al-Ekhbariya channel (@alekhbariyatv) February 13, 2023
video | Acting Minister of Commerce and Information: We lent more than 95 billion riyals to small and medium enterprises, and the number of enterprises increased by 35% in just a year #news#Conference _ of _ government _ communication pic.twitter.com/L5rRUHdNoP
– Al-Ekhbariya channel (@alekhbariyatv) February 13, 2023
video | Acting Minister of Commerce and Information: The market controls product prices and we support the national product to help it expand#Conference _ of _ government _ communication#news pic.twitter.com/bKZIe9XKug
– Al-Ekhbariya channel (@alekhbariyatv) February 13, 2023
