The Saudi Cabinet has announced that businesses in the Kingdom will be given the option to remain open 24 hours a day, according to a report in Arab News.

According to the minister of commerce and investment Dr. Majid Al-Qassabi, it has been shown that 24-hour trading can have a positive effect on the macroeconomy of a country by increasing demand for goods and services, stimulating consumer spending and attracting capital investment. In addition the move can help boost sectors such as leisure and tourism and is expected to create new job opportunities.

The decision, which includes retail and hospitality outlets, reflects moves being made by the Kingdom to support the private sector and entrepreneurs by providing a supportive environment to operate in.

Saudi Arabia is also committed to reducing the unemployment rate from 11.6% to 7% by providing more job opportunities for young people in particular, supporting entrepreneurs, establishing large enterprises and increasing the role of the private sector and creating partnerships.