MISA sets up response center to mitigate negative business impact

MISA sets up response center to mitigate negative business impact

The Ministry of Investment of Saudi Arabia (MISA) hasestablished a dedicated COVID-19 Response Center (MCRC) to supportbusiness continuity and mitigate negative business impact as governments acrossthe world implement measures to combat and limit the pandemic.

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

Minister of Investment Khalid Al-Falih commented:"This is an extraordinary time, and we understand that many investors andbusiness leaders are concerned.

"We activated the MCRC this past week as part of a proactiveplan to ensure business continuity for our partners in the midst of this unprecedentedchallenge.

"While global leaders and decision-makers are still not fullyclear on how long this challenge will last, or how long we will need tomaintain our mitigation efforts, we at MISA want to reassure our partners thatwe are working around the clock to support them in every way we can."

Over the past five days, MCRC has received more than 1,400calls and requests, and MISA has deployed more than 530 support services forits partners. During this period, MISA has also issued or renewed 110 businesslicenses — in a clear indication that the ministry is ensuring continuity ofservice and support.

The minister also highlighted: "Like most of the world rightnow, 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.

MISA has also developed a business continuity playbook, whichis available on its website, along with a regularly updated database offrequently asked questions to help businesses quickly find answers to commonquestions, as well as stay up to date with the latest information on governmentservices and support programs.

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