Saudi Arabia’s cabinet
Saudi Arabia’s cabinet passed the e-commerce law in July 2019 to regulate the relationship
between the parties in the sector in line with the growth of e-commerce in the country. The new
regulation comes as part of the e-commerce council’s initiatives.
The ministry of commerce and investment is looking to benefit from the strong growth of e-
commerce across the Kingdom under 39 initiatives to enhance infrastructure, payment systems,
postal and logistic services. It will also provide a promising market for potential investments in
the e-commerce sector.
The Kingdom is considered one of the 10 fastest-growing states in e-commerce around the
world, with a growth rate exceeding 32 percent per year. E-commerce is also one of the pillars of
the Kingdom’s Vision 2030 under the National Transformation Program and a major contributor
to its economy.
Minister of Commerce and Investment Dr. Majid al-Qasabi said "The e-commerce law bolsters
the economy’s position and ability to keep pace with all the world’s changes and modern trading
patterns"
Requirements:
In this assignment you need to prepare essay about the new e-commerce law in Saudi Arabia.
Introduce the main regulations in the new e-commerce law and who are involved?
What are the impacts after applying the new law to customers, online business, society
and the national economy?
What are the benefits of the new regulations to both customers and e-commerce
business?
Sample Solution
unskilled labor affixed to agriculture in LDCs, the high increase in productivity means the country would be able to export primary goods and in turn gain access to foreign exchange* i.e hard currency. We will discuss the use of foreign exchange at a later stage in the essay. INDUSTRIAL POLICIES A late developing state broadly needs two steps to become a successful sustainable industrial growing economy. The first step would be bringing Industry up to par with global competitors, and the second would be introducing competition as a mechanism to increase discovery. The former obviously needs to precede the latter for effective and sustained growth. In the interest to achieve the goal of brining domestic industries up to par, the state would need to bring about successful ‘Import substitution’, which can be done through levying two major policies –Tariff Protection and Subsidies. Tariff protection is fiscally most feasible way to promote the sunrise industry in the country. High import tax on automobiles in Japan after World War II is an example of how a state policy can nozzle the imports into the country. This effort was made to give a boost to Import Substitution. Japan’s automobiles may be a popular case of high import tariffs, but long before that, Britain in the 14th century, had aggressively shielded it’s infant industry in the same method, and levied high tariffs on manufacturing products even as late as the 1820s (Chang, H.J., 2010).