The Minister of Commerce and Industry HE Dr. Tawfiq AlRabiah gave a lecture at Alfaisal University to the students of College of Business. The presentation took place on Sunday, November 29th, 2015, and titled “How to Start a Business”. He addressed the benefits and incentives of the private businesses. He also stressed that the obstacle to the start a project in Saudi Arabia is not the capital, it is often the individual/entrepreneur. He gave many examples of successful projects showing that insisting on the achievement, spirit of challenge, and enthusiasm are the attributes for success in the new project/business.
The minister described the role of the Ministry of Commerce and Industry in supporting new projects, and that extracting a commercial register is being done in a very short period of time. Moreover, he praised the Ministers Council decision to establish a private authority for Small Businesses (SMEs) acknowledging the importance to support young people, their ideas and projects. He emphasized that new projects will be an important contributory for the national economy and for creating many job opportunities for the youth of our nation.
The Minister also pointed out that the investment in industry in the Kingdom is progressing well, and recorded a growth of 8% last year. Besides, he pointed out that the e-license is now issued in one day, and highlighted other several encouraging facilities.
HE Dr. AlRabiah was impressed by the quality and maturity of the questions he received from College of Business students in a live Q&A session that followed the lecture. He expressed his admiration to their deep and precise interaction and analysis, and wished for the University and its students more success.
By the end of the lecture, President of AlFaisal University, Dr. Mohammed Al Hayaza praised the significant role played by the Ministry of Commerce and Industry to serve the country and the citizens, and he thanked Dr. AlRabiah for his valuable lecture, and for his forward initiatives to cooperate and support the university students.
The lecture is part of College of Business Executive Lecture Series to provide Alfaisal University students and guests from the business community the opportunity to learn from some of the country’s leading executives as they talk about their careers and leadership experiences. College of Business sponsors the weekly Executive Lecture Series as a way to bridge the gap between the world of leadership and business education.