Al Sari: Opening stores 24 hours creates opportunities and enhances current investments
Counselor Muhammad Al Sari appreciated the Cabinet’s decision to allow commercial activities to operate for 24 hours, which in turn will contribute to enhancing the economic growth of the Kingdom of Saudi Arabia in accordance with the National Transformation Program 2020 and the Kingdom’s Vision 2030, enhancing the quality of life program, and increasing local content represented in supporting industries and exports.
Al Sari indicated that the decision will contribute to providing spatial and temporal service to Saudi customers, and will increase and support Saudi non-oil industries and exports, which would achieve additional and diversified revenues for the economy, increase local content, and create a positive impact in the long term and open wide areas for private sector investments in addition to To provide goods and services to the population around the clock, create jobs, and promote economic growth by multiplying options for the consumer and offering more options.
Creation of part-time and part-time jobs
As for job creation, according to Al Sari, the positive impact will create more jobs and open a way for entrepreneurs to invest in the activities that this decision will create, especially the hospitality, entertainment and tourism sectors. What will occupy leisure time and achieve additional revenues and income by creating jobs due to the increase in work periods, which will automatically provide more options for job seekers, and will raise average salaries as well as the number of jobs available for Saudi men and women, and will support the serious replacement of citizens in place of expatriates, stressing that the decision is sufficient to create many jobs And make Saudis the least unemployed in the world.
Enhancing existing investments and creating new opportunities and activities
According to Al Sari, the decision will enable Saudi Arabia to communicate and open up to the world in light of the Kingdom's ambition to be one of the global tourist destinations by attracting more entertainment events and the meeting industry, and attracting many investors and tourists. This will increase the national domestic product and raise non-oil revenues.
Al Sari explained that opening the shops will increase the demand for many security, safety and security guard jobs, and will increase the effectiveness of asset management, equipment and commercial units, and improve investment returns for many real estate facilities and industrial complexes.
Enhances vision software support
Al Sari stressed that the decision helps achieve one of the main goals for the Kingdom of Saudi Arabia to be a logistical platform, and for the Kingdom to advance from the 49th to the 25th in the world and the first regionally, by supporting the services industry that the World Bank considers and describes as the backbone of global trade. For the importance of this sector, and that this decision will contribute to achieving the goals and creating a suitable environment that incubates all economic activities.
The time difference between Saudi Arabia and other international time zones
Al Sari noted that the time difference between Saudi Arabia and other international time zones is one of the obstacles to intra-trade and commercial exchange, and had a negative impact previously, and that the Cabinet's decision to allow commercial activities to operate for 24 hours will contribute to opening new horizons by stimulating and encouraging international companies to Investing in Saudi Arabia, creating partnerships that support Vision 2030 and benefiting from the Kingdom’s investment capabilities effectively, and that enabling major international companies to invest in Saudi Arabia will provide greater financing opportunities and stimulate the economic and investment cycle, especially the financial sector and banks, which in turn will facilitate the issuance of shares of Saudi companies, and open Ways of investing and trading by deepening the financial markets.
