Minister of Commerce and Industry Abdullah bin Ahmad Zainal has approved turning Al-Dammam Hotels Company into a closed joint stock Company. Dr. Hassan Fadh Aqeel, the Under Secretary of the Ministry of Commerce and Industry for internal trade, said the Company's capital amounts to SR Two million and it is divided into 200,000 shares with a nominal value of each share amounting to SR10. The founders of the Dammam-based company have subscribed for all shares of the company. This development comes within the framework of the state's policy which aims at broadening the economic base and diversifying the sources of the national income as well as encouraging the private sector to play an effective role in the process of accelerating the wheel of economic development.
