Protecting competition and financing small enterprises at the “Shura” table to support the national transformation

The Economy and Energy Committee – one of the specialized committees – of the Shura Council held a meeting chaired by Council member and Chairman of the Committee Dr. Faisal Al Fadel, to discuss the annual reports of the General Authority for Competition and the financing guarantee program for small and medium enterprises, for the fiscal year 1441/1442 AH.

The meeting, in which the members of the Council and members of the Committee participated, reviewed a number of themes about what was included in the two reports on the performance of the authority and the program, in preparation for submitting the report of the Economic and Energy Committee and its recommendations to the Council in one of its upcoming sessions.

During the meeting, the committee stressed the importance of intensifying the efforts of the General Authority for Competition to raise the level of knowledge about competition and procurement, whether for workers in the public or private sectors involved in competition and procurement, in addition to studying the additional regulatory tools necessary to increase ensuring fair competition between various companies and setting up direct and indirect mechanisms for the targeted sectors, noting The committee indicated that it is important to coordinate between the authority, the Ministry of Finance and the relevant authorities to work on developing the necessary mechanisms in the government procurement and competition system to ensure fair competition.

During the meeting, the members of the committee discussed the possibility of the authority developing effective mechanisms for complaints and communications, and coordinating with the relevant authorities to expedite the consideration and issuance of judgments within a period not exceeding six months, starting from the receipt of the communication until the issuance of the judgment.

During the committee’s study of the report of the Small and Medium Enterprises Financing Guarantee Program, the committee indicated the need for studies related to the legislative and executive environment of the loan and facilities guarantee program in the Kingdom, to support the program’s expansion process to support entrepreneurs in facing financial challenges and increase the number of program beneficiaries by benefiting from global experiences in this the field.

The members of the committee discussed the possibility of the program studying the impact of the initiative to support enterprises with high Emiratisation rates launched by the National Development Fund through the program to be among the permanent Emiratisation initiatives.

On the other hand, the Administration and Human Resources Committee held a meeting – via video communication – headed by a member of the Board, Vice-Chairman of the Committee, Dr.

The meeting discussed the highlights of the annual report of the Ministry of Human Resources and Social Development for the fiscal year 1441/1442 AH, on the performance of the ministry during the year of the report, where the most prominent achievements of the ministry and what it has done to improve its performance and raise the quality of services it provides to beneficiaries were reviewed.

The meeting dealt with ways to overcome the difficulties and obstacles faced by the Ministry’s sectors (labor, development, and civil service) during the year of the report, especially during the period of the Corona pandemic, and the programs and initiatives it presented to reach the best results to achieve the desired goals.

It is noteworthy that the Committee on Economy and Energy, and the Committee on Administration and Human Resources are among the specialized committees of the Shura Council that discuss topics that fall within the scope of its competencies referred to it by the Council, including the annual reports of government agencies, and draft regulations.

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