MISA sets up response center to mitigate negative business impact

The 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.

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.

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

“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.

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

Over the past five days, MCRC has received more than 1,400 calls and requests, and 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.

The minister also highlighted: “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.

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.