MCI Adopts a New Transformation Plan to Attract Foreign Investment and to Promote Exports through the Commercial Attachés

30 Apr 2017
​Implementation Started at the Commercial Attachés in Italy, and to be completed by the end of 2017 AD
The Ministry of Commerce and Investment approved the mechanism of an executive plan to develop the functions and work of the commercial attachés, through a new transformation plan focusing on two hubs. The first one is based on attracting foreign investments, promoting exports and introducing the investment opportunities in the Kingdom, while the second hub aims to collect and provide information and commercial data and facilitate the work and services for businessmen at the countries, which they wish to invest in.
MCI aims to increase the volume of trade and economic exchange between the Kingdom and the friendly countries, as well as to attract more value added foreign investments to the Kingdom, also to promote the volume of non-oil Saudi exports. To achieve this goal, the Ministry has set specific and measurable indicators and objectives for this project, which varies from one country to another, according to the strategic investment plan. An executive team, headed by His Excellency the Minister of Commerce and Investment, will be in charge to follow up and monitor the implementation and developments of the pilot phase permanently, in order to provide full support for the success of this project, and to take the necessary measures to overcome any obstacles.
Meanwhile, the implementation of the said transformation plan, as a six-month pilot model, had already started at the Commercial Attachés in Italy last year. During this period, the necessary evaluation and identification of advantages and disadvantages would be effected, as well as identifying the obstacles to be overcome, before applying the final model at all Commercial Attachés in the third and fourth quarter of 2017.
MCI initiative, to develop the commercial attachés, comes within the on-going MCI keenness to develop all its departments, as well as to improve the performance of the Kingdom's commercial attachés, due to their pivotal role in providing a distinctive image of the Saudi economy, besides promoting the promising investment opportunities in the Saudi market, in addition to activate their role in promoting the export volume, in line with the Kingdom’s Vision 2030.
Notably, the Kingdom's Commercial Attachés had participated, with the official delegations, in 180 exhibitions and conferences, and held 400 meetings with government agencies and foreign companies, also prepared 30 reports and economic studies, as well as received 113 complaints during 2016 AD.
It is worth mentioning that the Kingdom's Commercial Attachés endeavor to keep in touch and to follow up the regulations issued by foreign countries, and to facilitate the work of Saudi companies wishing to export or import from or to foreign countries, they also cooperate with the Kingdom's Embassies in following up the trade exchange and to overcome any difficulties that may face the kingdom's exports to such countries, besides attracting the investments to the Kingdom.
Last Modified 26 Dec 2018