Trust is the most valuable asset in markets, says deputy commerce minister
Abdulaziz Al-Duhaim highlighted at a governance conference that trust lowers business costs and governance provides the foundation for building it.
Deputy Commerce Minister Abdulaziz Al-Duhaim emphasized the importance of trust in markets at a governance conference. He stated that trust is the most valuable asset in any market, as it reduces business costs and provides a solid foundation for governance. Trust decreases the expenses associated with disputes, financing, partnerships, and contracts, while increasing costs when trust diminishes - each party bears the risk of the other.
Al-Duhaim explained that governance does not merely involve oversight, but instead establishes the framework for building trust. Good governance clarifies responsibilities, safeguards rights, and enhances decision quality. Additionally, a robust regulatory framework ensures the protection of partners, shareholders, and stakeholder rights.
Written by urgent.news from Ajel English's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
