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Friday , January 17 2020

MoCI cuts subscription, service fees for SME owners

KUWAIT CITY, July 21: Ministry of Commerce and Industry has reduced the fees of some services and subscriptions for owners of small and medium enterprises by 50 percent, reports Al-Qabas daily quoting reliable sources.

They revealed that this decision was taken following the increase in the number of complaints concerning the high costs borne by entrepreneurs to carry out their projects.

The sources affirmed that the government aims to bear the fees borne by the owners of small enterprises based on a plan prepared by Ministry of Commerce and Industry after it reduced the fees imposed on entrepreneurs for issuance of commercial licenses and other such procedures.

This decision in support of small entrepreneurs was made by the Minister of Commerce and Industry and State Minister for Services Affairs Khalid Al-Rawdhan to reduce the fees for services of the Department of Commercial Transactions and Patents.

Meanwhile, MoCI is planning to electronically link its system with 33 ministries and governmental bodies, particularly in obtaining commercial licenses in coordination with all authorities in charge of commercial activities, reports Al-Jarida daily quoting reliable sources.

Sources disclosed the ministry’s target for the next period is to link with three governmental authorities – ministries of Interior and Information as well as the Public Authority for Telecommunications. Sources said this will ease procedures for entrepreneurs as the transactions will be paperless.

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