Executive Regs of GCC Unified Industrial Organization Law approved

Minister of Industry and Mineral Resources Bandar Alkhorayef

Minister of Industry and Mineral Resources Bandar Alkhorayef approved the GCC Unified Industrial Organization Law.

The decision was published in the Official Gazette and will come into force 90 days from the date of publication.

The executive regulations comprise 17 articles under four chapters.

Projects operating in oil exploration and extraction, as well as those engaged in the extraction of mineral raw materials without altering their content or form, are exempt from the law.

Under the regulations, the competent authority is required to maintain a special register to record industrial license applications, assigning serial numbers based on the order of submission, in accordance with relevant procedures.

The authority must decide on an industrial licensing application within a maximum of 30 days from the date it is submitted in complete form, and notify the applicant of the decision within seven days of issuance. If the application is rejected, the decision must be justified. Failure to respond within the specified review period shall be deemed an implicit rejection.

In addition, all industrial project owners must regularize their status in accordance with these regulations within one year from the date the regulations come into effect.