The Ministry of Commerce and Industry wants to make it mandatory for business owners, who have licenses for commercial activities from mayoralties and municipalities, to pay subscriptions to chambers of commerce and industry. The ministry said that the move is an attempt to boost the coffers of the chambers so that it can help to improve business development in the country. The ministry has sought approval for its decision from King Abdullah, Custodian of the Two Holy Mosques, who needs to approve an amendment to Article 5 of the Commercial Register Regulation of the Ministry of Commerce. Informed sources said the Ministry of Commerce and Industry is making official contact with the Ministry of Municipal and Rural Affairs to come up with a law that makes it imperative for the business owners, who get licenses from the municipality, to pay subscription fees to the chambers. This will help the chambers of commerce to increase their revenues by 300 percent. The sources said this step will enable the chambers of commerce to play a key role in supplying government agents with the necessary information about private establishments, to serve the country's development plans. According to a copy of the proposed subscription fees, obtained by Okaz/Saudi Gazettet, the top grade businesses will be charged SR10,000. This group includes banks, money exchange and financing companies. The second group, which covers joint stock companies and limited liability companies whose capital is under SR5 million and first grade contractors, will be charged SR5,000. The last group, including small companies and second grade contractors, will be charged SR2,000.
