Taking the principles of participation and transparency into consideration, the Ministry of Commerce & Industry calls on the public and those concerned to express their opinions, views and suggestions on the Draft of Non-Profit Corporate Law, through its website, before Tuesday, 10/08/1437 AH, corresponding to 17/05/2016 AD, indicating the pursuit of this project to draw a road map for this type of companies. Consequently, leading to prosperity in the non-profitable and charitable sector, and thus helping it to achieve its noble objectives.
The above mentioned draft may achieve multiple objectives, of which the most important are, the contribution in addressing the endowment project issues, support the public sector in achieving sustainable and comprehensive development targets in the kingdom and the development of the regular environment of the non-profit work to keep pace with the development of the economic life.
Also this draft may contribute in providing sources of stable funding for the non-profitable work, as well as encouraging the capitalists in supporting and sharing in this type of projects, in addition to the contribution in increasing the national output, also boosting the economic activity, more over improving the work methods and efficiency and eventually providing employment opportunities.
MCI calls on the public and those interested to participate and express their opinions through the link: click here