RIYADH — The Ministry of Commerce has exempted commercial entities from chamber subscription in the first three years. Minister of Commerce Majed Al-Qasabi made the announcement on his Twitter account on Saturday after the executive regulations of the commercial chambers law has been issued. The new law has approved reducing the subscription fees after the third year. The minister said, as per the regulations, multiple subscriptions are canceled, adding that only one subscription is needed regardless of the number of branches. The move aims to support entrepreneurs as well as small and medium-sized enterprises (SMEs), in light of digital transformation. Al Qasabi said that the chambers of commerce governance rules were approved, along with a mechanism for measuring and evaluating chambers' performance.
