Saudi Arabia Participates in Global Entrepreneurship Congress in Australia

SPA
SPA
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Saudi Arabia Participates in Global Entrepreneurship Congress in Australia

SPA
SPA

Saudi Arabia is taking part in the Global Entrepreneurship Congress (GEC), held in Melbourne, Australia, between September 19 and 22, under the umbrella of the General Secretariat of the Gulf Cooperation Council (GGC).

The Small and Medium Enterprises General Authority (Monshaat) Vice Governor for Entrepreneurship Saud Al-Sabhan heads the Kingdom’s delegation that is made up of representatives of several public institutions and Saudi entrepreneurs.

Participating in the congress is bound to boost Saudi Arabia’s status as an important supporter of SMEs, as well as highlight efforts that the authority exerts in support of entrepreneurs and SMEs. It will also give an opportunity to entrepreneurs to network with global experts and specialists, and benefit from their expertise, through various programs and initiatives that Monshaat organizes.
The delegation, which includes several government institutions, including the ministries of investment, communications and information technology, environment, water and agriculture, and industry and mineral resources, is slated to discuss with representatives of international institutions important opportunities for SMEs and means to boost cooperation to develop entrepreneurship in the Kingdom.
The delegation is expected to visit Melbourne Entrepreneurial Center and the Hatch Quarter incubator and accelerator, which provide support and consultations to SMEs to help them expand and participate in global markets to attract investments.



Saudi Arabia Continues Campaign against Violations of Car Dealers, Showrooms

Vehicle prices in Saudi Arabia have witnessed a significant increase. Asharq Al-Awsat
Vehicle prices in Saudi Arabia have witnessed a significant increase. Asharq Al-Awsat
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Saudi Arabia Continues Campaign against Violations of Car Dealers, Showrooms

Vehicle prices in Saudi Arabia have witnessed a significant increase. Asharq Al-Awsat
Vehicle prices in Saudi Arabia have witnessed a significant increase. Asharq Al-Awsat

The Saudi General Authority for Competition (GAC) continues its campaign to crack down on violations committed by car dealers and showrooms.

On Tuesday, GAC issued decisions to initiate criminal lawsuits against 107 institutions and to study settlement requests submitted by 17 others.

This came after vehicle prices in Saudi Arabia witnessed a significant increase, prompting the concerned government agencies to verify and stop market manipulation.

According to information made available to Asharq Al-Awsat, the Authority investigated last year 155 establishments operating in the automobile sector, and found that 124 institutions have violated the provisions of the Competition Law and its executive regulations.

Violations included agreements between firms on fixing vehicle prices and dividing markets on the basis of geographical areas.

The Authority noted that these violations led to reducing competition and affecting consumer well-being, forcing the Board of Directors to initiate criminal lawsuits against 107 establishments, and to study settlement requests submitted by 17 others.

In January, the Authority approved filing charges against 79 firms, including agents, distributors, and car showrooms, for violating the law and its executive regulations.

The GAC Board held its 85th meeting on Tuesday and decided to initiate a criminal case against a number of establishments, due to allegations of price-fixing, market division, and other anticompetitive practices.

Moreover, the Board reviewed the results of an investigation in the education and industry sectors, and approved taking the necessary measures against six institutions.

It also decided to approve settlement requests submitted by two firms serving cold and hot beverages and pastries, after reviewing the results of the relevant study and investigation.