The Ministry of Commerce, Industry and Investment Promotion signed on Tuesday an agreement with the Public Establishment for Industrial Estates (Madayn) for establishing a framework for cooperation to facilitate investment-related procedures, licences and approvals for the investors and business owners through Madayn’s Masar Service Centres in the various industrial cities.
The signing ceremony was attended by Qais bin Mohammed al Yousuf, Minister of Commerce, Industry and Investment Promotion, while the agreement was signed by Dr Saleh bin Said Masan, Under-Secretary of the Ministry of Commerce, Industry and Investment Promotion for Commerce and Industry, and Hilal bin Hamad al Hasani, Chief Executive Officer of Madayn.
Ibtisam bint Ahmed al Farooji, Director General of Investor Services at Madayn, stated that this agreement comes along the lines of the efforts undertaken by the two bodies to attract and localise investments, simplify investment procedures, strengthen cooperation in common competencies, and consequently contribute to achieving comprehensive and sustainable economic and social development in coordination with the relevant bodies.
“In this regard, Madayn established Masar Service Centre to deliver a variety of services in a fast and effective manner to achieve an attractive investment environment for local and foreign investors. With this in mind, efforts are being made to offer comprehensive services within Madayn’s industrial cities including road, electricity, water and sewage networks,” Al Farooji said.
Under the agreement, all investment-related services offered by the Ministry of Commerce, Industry and Investment Promotion will be provided through Masar Service Centres in Madayn’s various industrial cities.