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Governance Policy

Within the framework of the Ministry of Economy's seek to develop a flexible system for a new future economy that enhances the business environment, motivates the attraction of investments and talents, develops an innovative regulatory and legislative environment for the economic sector, enhances the business environment and governance, and adopts proactive projects to raise the standard of living and prosperity of society, the Ministry's leaders, councils, and standing committees are keen to provide effective governance for the Ministry's affairs to meet the interests of higher stakeholders, customers, employees, and other stakeholders.

In this regard, the Ministry seeks to uphold the rule of law and establish the principles of justice, equality, transparency, and accountability. The essence of effective and rational governance in the Ministry focused on the following:

  • Implementing best practices of corporate governance and complying with laws, legislation, and regulatory policies;
  • Achieving the best value for stakeholders and engaging them in decision-making and achieving the purpose and strategy of the Ministry;
  • Adopting a culture of governance, correct values and behaviors, and strengthening integrity, transparency, accountability, and justice in all activities of the Ministry and its sectors sponsored by the Governance Authority, the Executive Authority, committees, and employees based on a clear vision and objective foundations;
  • Proactively working to achieve the purpose and objectives of the Ministry according to the best performance standards;
  • Optimally using resources, managing assets, protecting evidence, community participation, ensuring business continuity, and managing crisis;
  • Adopting the foundations of effective governance of organizations (ISO 37000) and incorporating its guidelines into the policies, procedures, and operational processes of the Ministry, as well as integrating them with the applied management systems;
  • Periodically assessing governance practices and providing support for internal control and risk management; and
  • Continuously improving the governance and compliance management system;

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