Saudi Arabia Completes E-Link Procedures to Automate Business Acceleration

Riyadh's strategy aims to make the city capital one of the ten largest city economies in the world (Asharq Al-Awsat)
Riyadh's strategy aims to make the city capital one of the ten largest city economies in the world (Asharq Al-Awsat)
TT
20

Saudi Arabia Completes E-Link Procedures to Automate Business Acceleration

Riyadh's strategy aims to make the city capital one of the ten largest city economies in the world (Asharq Al-Awsat)
Riyadh's strategy aims to make the city capital one of the ten largest city economies in the world (Asharq Al-Awsat)

The Saudi Central Bank (SAMA) completed the electronic linking procedures with the Saudi Center for Economic Business through the Tanfeeth program to directly link the technical systems of government agencies and banks operating in the Kingdom and integrate them. This step would contribute to automating and accelerating business processing to achieve Vision 2030.

The Saudi Center for Economic Business is concerned with facilitating the procedures for launching and conducting businesses and providing all related services under international best practices.

SAMA stated that it aims, through Tanfeeth, to improve and develop joint business with government agencies, understand the needs of those agencies, and overcome obstacles and difficulties.

It seeks to achieve the objectives of the Central Bank, enhance the technical infrastructure, and increase the level of services aiming to reduce administrative procedures and improve their quality in integration with financial institutions operating in the Kingdom.

Meanwhile, Riyadh Municipality inaugurated Remat al-Riyadh Development Company, the strategic arm, to enable the private sector to implement and develop municipal projects.

The development arm will also help provide services to improve the quality of life and provide direct value to residents and visitors of the region.

Its activities will focus on three main sectors: urban development, asset management, and municipal services.

Remat al-Riyadh will contribute to empowering the strategic role of the Municipality by supporting its operations and enabling the private sector to implement and develop municipal projects.

The mayor and chairman of the Riyadh region, Prince Faisal bin Ayyaf, confirmed that the company would contribute to accelerating the developmental plans for the area and improving residents' lifestyles.

Given that Riyadh is deemed full of tremendous and promising opportunities, the firm will promote this growth by involving the private sector in the municipal sector, as it aspires to be one of the top development companies in the municipal sector.

He indicated that the company's activities are based on three main sectors: urban development, municipal asset management, and municipal services, to improve the quality of services and municipal projects, improve customer experience and achieve satisfaction.

Prince Faisal added that the company aims to boost the level of municipal services and contribute to creating a vibrant society that enables economic and social development for the Riyadh region.

Remat al-Riyadh CEO Abdullah Abu Daoud said that the company aspires to contribute to making Riyadh an ideal and successful model by developing and shaping the future of the municipal sector based on strategic priorities aimed at providing quality projects and services that contribute to the prosperity and improvement of the region and the progress of the area.

It also aims to improve quality of life, achieve financial sustainability, and develop attractive and innovative business models in partnership with the private sector.

During the past year, Saudi Arabia launched the Riyadh city strategy to make the capital one of the ten largest city economies in the world.



Trump Says US May Not Have a Negotiated Trade Deal with Canada

 25 July 2025, US, Washington: US President Donald Trump speaks to the media before heading to Scotland this weekend for meetings and to play golf. (dpa)
25 July 2025, US, Washington: US President Donald Trump speaks to the media before heading to Scotland this weekend for meetings and to play golf. (dpa)
TT
20

Trump Says US May Not Have a Negotiated Trade Deal with Canada

 25 July 2025, US, Washington: US President Donald Trump speaks to the media before heading to Scotland this weekend for meetings and to play golf. (dpa)
25 July 2025, US, Washington: US President Donald Trump speaks to the media before heading to Scotland this weekend for meetings and to play golf. (dpa)

The United States may not reach a negotiated trade deal with Canada, US President Donald Trump said on Friday, suggesting his administration could set a tariff rate unilaterally.

Trump, speaking to reporters as he left the White House for a trip to Scotland, said, "We haven't really had a lot of luck with Canada. I think Canada could be one where there's just a tariff, not really a negotiation."

The two nations are trying to work out a trade deal before August 1, when Washington is threatening to impose 35% tariffs on all Canadian goods not covered by the US-Mexico-Canada trade agreement.

Prime Minister Mark Carney's office did not immediately respond to a request for comment. Canadian officials have increasingly made clear that the chances of a deal by August 1 are unlikely.

Dominic LeBlanc, the federal cabinet minister in charge of US-Canada trade, told reporters in Washington on Thursday after two days of talks that "we've made progress, but we have a lot of work in front of us."

LeBlanc said Canada would take the time necessary to get the best deal possible.

Carney indicated last week that Canada might not be able to persuade the United States to lift all its sanctions.