عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Saudi Arabia Shows the World its Vision for Expo Riyadh 2030

Artistic paintings and singing performances impressed the forum’s guests (Asharq Al-Awsat)
Artistic paintings and singing performances impressed the forum’s guests (Asharq Al-Awsat)
TT
20
TT

Saudi Arabia Shows the World its Vision for Expo Riyadh 2030

Artistic paintings and singing performances impressed the forum’s guests (Asharq Al-Awsat)
Artistic paintings and singing performances impressed the forum’s guests (Asharq Al-Awsat)

The closing forum to host the Riyadh Exhibition (Expo 2030), which was held by the Royal Commission for the City of Riyadh, was successful by all standards.

The choice of the place, in the Meudon forest - located west of Paris and known for its beautiful lake and spacious building suitable for major events - was in harmony with the purpose of the Saudi presentation, which is to delight the eyes and ears with the exceptional watercolor paintings.

The artistic scenes presented by the Saudi bands, accompanied by musical performances by a large orchestra of 56 musicians, came to dazzle the forum’s guests. Hundreds of attendees responded to the invitation, highlighting support for Saudi Arabia for winning the hosting of Expo 2030.

It was clear to everyone that the exhibition falls completely within the framework of Vision 2030 and its various ambitions. The large and high-ranking official Saudi delegation, the warm hospitality, and the good organization were all elements that gave the forum a special flavor.

According to the sources of the Saudi delegation, there are serious chances of Saudi Arabia winning the privilege to host the international event, even though Seoul, the capital of South Korea, is deploying great efforts to influence the members of the International Bureau of Exhibitions and win them over to its advantage.

The final word is due to be announced on Nov. 28, on the occasion of the General Assembly of the Bureau International des Expositions, where the competing countries will be given the last opportunity to present their arguments, after which a vote will take place to appoint the winning party immediately.

The Riyadh exhibition carries the slogan, “Together We Shape the Future” (a better tomorrow, climate action and prosperity for all), and will be held for six months (from October 1, 2031 until the end of March 2031).

Organizers expect the event to achieve record numbers on many levels. The exhibition will stretch over 6 million square meters, while 179 countries will join the event. Virtual visitors are expected to reach one billion, and in person visitors will account for 40 million, in addition to the participation of 246 non-governmental bodies.

Most Viewed

 
Business

Saudi Arabia Enacts Reforms to Boost Business Climate, Investment Appeal

Riyadh (SPA)
Riyadh (SPA)
TT
20
TT

Saudi Arabia Enacts Reforms to Boost Business Climate, Investment Appeal

Riyadh (SPA)
Riyadh (SPA)

Saudi Arabia will enforce two major regulatory frameworks, the Law of Commercial Register and Law of Trade Names, starting Thursday, marking a significant overhaul of its business registration process.

The reforms are part of the kingdom’s ongoing efforts to modernize its regulatory environment, create a more business-friendly ecosystem, and strengthen its position as a global investment hub in line with Vision 2030.

Approved by the Saudi government on Sept. 17, the new laws represent a major regulatory shift aimed at empowering investors, facilitating business growth, and unlocking investment opportunities nationwide.

They form part of a broader, ongoing regulatory transformation designed to enhance transparency, improve the business climate, and align with the kingdom’s economic and technological advancements.

Commerce Minister Majid Al-Kassabi said the Cabinet’s approval of the laws aims to streamline business operations and ease the burden on enterprises by consolidating their registration into a single nationwide record.

The new framework also standardizes the reservation and registration of trade names to protect and enhance their value, aligning with Saudi Arabia’s economic and technological advancements under Vision 2030.

Saudi Arabia ranks 62nd out of 190 economies in the World Bank's latest annual Ease of Doing Business index.

Ministry of Commerce official spokesperson Abdulrahman Al-Hussein noted that the new commercial register law introduces major changes.

Among the key changes are the elimination of subsidiary registers, with a single commercial register now being sufficient. Additionally, the law removes the requirement to specify the city of registration, allowing one commercial registration to apply across all regions of the Kingdom.

The new law also obligated commercial establishments in Saudi Arabia to open bank accounts linked to the establishment in order to enhance its reliability and ensure the integrity of its transactions.

In addition, the law cancels the expiration date for the commercial register, requiring only an annual confirmation of the data, the spokesman stated.

Under the law, the commercial registration number will serve as the establishment’s unified number, starting with (7).

The ministry will grant existing subsidiary registers a five-year grace period to rectify their status in accordance with the new regulations.

Meanwhile, the new Law of Trade Names in Saudi Arabia, which consists of 23 articles, aims to regulate the procedures for reserving and recording names in the commercial register, maximizing their value, and protecting them and their rights.

The law allows a trade name to be reserved before it is recorded for a specific period that can be extended. It also sets the requirements that must be met by trade names to be registered or reserved, and the criteria for prohibited names.

Al-Hussein explained that the new regulations also allow for the reservation and registration of trade names in English, including letters or numbers.

This marks a departure from the previous law, which permitted only Arabic names without foreign characters or numbers.

The new law will enable the management of trade names independently from the establishment, allowing for the transfer of their ownership while prohibiting the registration of identical or similar names for different establishments in Saudi Arabia, even if their activities differ.

Al-Hussein noted that the law also includes regulations for reserving family names as trade names and establishes criteria for prohibited or misleading names.