Riyadh: Businesses in Saudi have been given the option to remain open 24 hours a day instead of shutting down during night time.
Chaired by King Salman bin Abdulaziz Al Saud, the Saudi Cabinet announced the move which aims to “improve the quality of life, enhance satisfaction and create new opportunities for the business sector”.
“It has been shown that 24-hour trading can have a positive effect on the macro-economy of a country by increasing demand for goods and services, stimulating consumer spending and attracting capital investment,” said Minister of Commerce and Investment Dr Majid Al Qassabi.
In a statement to Saudi Press Agency (SPA), he said that the new regulation would also boost key sectors such as leisure, tourism, transport and communications, and expected to create new job opportunities.
Saudi Arabia is committed to reducing the unemployment rate from 11.6 per cent to 7pc by providing more job opportunities for young people in particular, supporting entrepreneurs, establishing large enterprises, increasing the role of the private sector and creating partnerships.