Saudi investment ministry establishes coronavirus response center to keep businesses operating

DUBAI - Saudi Arabia’s Ministry of Investment of Saudi Arabia (MISA) has established a dedicated COVID-19 Response Center (MCRC) to support business continuity and mitigate negative business impact as governments across the world implement measures to combat and limit the pandemic, state news agency SPA reported.

The MCRC is continuing to coordinate with more than 7,000 investors throughout the Kingdom, facilitating government support services and advising stakeholders on best practices to approach potential challenges.

“This is an extraordinary time, and we understand that many investors and business leaders are concerned,” said Khalid Al-Falih, Saudi Arabia’s Minister of Investment.

“We activated the MCRC this past week as part of a proactive plan to ensure business continuity for our partners in the midst of this unprecedented challenge.”

He said that global leaders and decision-makers were still not fully clear on how long the COVID-19 situation will last, or how long mitigation efforts will have to be managed.

“We at MISA want to reassure our partners that we are working around the clock to support them in every way we can.”

He said MCRC had received more than 1,400 calls and requests in the last five days, adding that MISA has deployed more than 530 support services for its partners.

During this period, MISA has also issued or renewed 110 business licenses – in a clear indication that the Ministry is ensuring continuity of service and support.

“Like most of the world right now, our staff are currently working from home to help prevent the spread of COVID-19. But they are fully integrated and equipped to support our partners,” the minister added.

“They stand ready to provide guidance and resources as needed – whether via telephone, email, and through our social media channels. We are also coordinating with all government agencies to facilitate and deploy services and incentives as needed, while proactively identifying emerging challenges that investors might face in the days and weeks ahead and working to solve them as soon as possible.”

MISA has also developed a business continuity playbook, which is available on its website, along with a regularly updated database of frequently asked questions to help businesses quickly find answers to common questions, as well as stay up to date with the latest information on government services and support programs.