By Assil bin Talib
Riyadh-Mubasher: The decision of Saudi Arabian commerce ministry to cancel the minimum capital requirement for licensing an industrial enterprise will remove the obstacles facing the industrial sector, economists told Mubasher.
Ihsan Buhulaiga, head of Joatha Consulting, said this positive decision will remove the industrial sector's obstacles, noting that the manufacturing industry witnessed remarkable growth over the last period.
"The sector is attractive to Saudi nationals and seeks to reduce reliance on expatriates, lower imports, boost exports and enhance GDP," Buhulaiga said.
Mohammed Alsuwayed, head of capital and money markets at Adeem Capital, said the decision will give a boost to the domestic industrial sector, expecting it to see strong growth over the next period.
The main problem facing the sector is the logistics services which should be available at the industrial small and medium-sized enterprises.
Translated by Abdul Maguid Aboshahla
