São Paulo – The Saudi government decided to allow businesses to operate for 24 hours as per reported this Wednesday (17) by the newspaper Gulf News. The decision was made as the country is seeking to diversify and boost economic activities.
The extended hours will be in exchange for fees that the government bodies will determine according to each case. Some activities will be exempted from the fees based on public interest and the nature of the activity. The Saudi government didn’t made clear when the decision will take effect.
Riyadh Chamber of Commerce and Industry head Ajlan Al Ajlan said the move will create 45,000 jobs in the retail sector, in addition to 45,000 additional indirect and part-time jobs. “The decision will also contribute to a rise in the commercial activity of the small- and medium-scale enterprises by 14 to 16%,” he told the local press.
The decision was welcomed by businesses. “This is positive news that I expect will increase consumption and create jobs. Fast-food restaurants, cafes and cinemas will be the primary beneficiaries,” said Al-Rajhi Capital head of research Mazen Al-Sudairi.
According to Ministry of Municipal and Rural Affairs deputy Khalid Al-Degaither, the decision doesn’t include carrying out commercial activities during prayer times. Saudi Arabia is a Muslim country where shops shut for Islam’s five daily prayers. The information was published at Arabian Business.
Translated by Guilherme Miranda
