Ministry Of Commerce And Investment - Dammam Dammam
Ministry Of Commerce And Investment located in Dammam in Saudi Arabia. Ministry of Commerce and Investment aims to achieve a pioneering position for both Commerce and Investment sectors in Saudi Arabia within a fair and stimulating environment. and it working on enhance the potentials of both Commerce and Investment sectors and protect the beneficiaries' interests, by developing and implementing effective and efficient policies and mechanisms, which will contribute to achieving sustainable economic development.
The main tasks of Ministry of Commerce and Investment are:
- participate in setting and carrying out commercial policies,
- suggest issuing commercial systems and regulations, review the systems and regulations applied,
- regulate means of supervising the development of domestic trade markets and protecting them against exploitation and monopoly and to control prices.
This ministry is responsible for regulating commerce and investment in Saudi Arabia, it was established in 1373 H. The name of this ministry was changed from the Ministry of Commerce and Industry to became the Ministry of Commerce and Investment. As a result of the expansion of the commercial works and activities and their growth, on 17/3/1954 was issued royal decree to establish the Ministry of Commerce. It was tasked with regulating domestic and foreign trade and its development. Also, having been established, a number of bodies interested in commercial issues joined it. And the Benchmark Registration section was moved to it from the Ministry of Finance; in addition to supervising over the commercial, industrial chambers in the Kingdom.