Commission Improves the Investor Journey in the Telecom and IT Sector

The Communications and Information Technology Commission announced today the facilitation of licensing procedures in the telecommunications and information technology sector, in a step toward stimulating the investment climate and improving the investor journey, in cooperation with the National Committee for Investment Licenses emanating from the "Taisir" (Facilitation) Committee.

The Vice Governor of the Communications and Information Technology Commission for Regulatory and Competition Affairs, Dr. Mohammed bin Saud Al-Tamimi, explained that the process of redeveloping licensing procedures aims to develop business in the sector, and enhance the Kingdom's competitiveness in the field of telecommunications, adding that the Commission has succeeded in reducing the licensing and approval requirements that an investor goes through to obtain an operating license.

Dr. Al-Tamimi affirmed that the automation of investment activity procedures in the field of telecommunications and information technology, and electronic linkage with the Meras platform, and the issuance of an investor's guide, will directly reflect on improving the business environment in the Kingdom.

The Vice Governor of the Communications and Information Technology Commission for Regulatory and Competition Affairs noted that these measures taken by the Commission to develop investment in telecommunications and information technology activities will contribute to empowering investors and stimulating the investment structure, through the abolition of bank guarantees for (12) licenses that used to precede their issuance, and beginning to issue instant licenses for (4) commercial activities.

This stage comes as a result of the Communications and Information Technology Commission's pursuit of achieving the initiatives of Saudi Vision 2030 and providing opportunities for investors to enter the telecommunications and information technology sector, raise network efficiencies, and create investment and employment opportunities.

For his part, the Deputy Governor of the General Investment Commission for Investor Services and Consulting, and Chairman of the National Committee for Investment Licenses, Eng. Ibrahim bin Saleh Al-Suwail, explained that the process of re-engineering investment licensing procedures for the telecom sector has a direct impact on developing the sector in the Kingdom and developing the investment environment, reflecting on improving the investor journey.

Al-Suwail added that the National Committee for Investment Licenses, one of the committees of the Executive Committee for Improving the Performance of the Private Sector's Business and Stimulating It to Participate in Economic Development "Taisir," is working on evaluating and re-engineering investment licenses for nine sectors, with the aim of improving and developing the business environment.