Saudi Arabia approves national SME strategy targeting 500,000 jobs
RIYADH — The Saudi Cabinet on Tuesday approved the National Entrepreneurship and Small and Medium Enterprises Strategy, which includes 13 initiatives aimed at accelerating business growth, attracting global innovative startups and reducing the cost of doing business in the Kingdom.The strategy seeks to create more than 500,000 direct and indirect jobs and raise the contribution of SMEs to Saudi…
Saudi Arabia's cabinet has approved a National Entrepreneurship and Small and Medium Enterprises Strategy aimed at boosting business growth and job creation. The strategy includes 13 initiatives to attract global startups, reduce business costs, and increase SMEs' contribution to the GDP to 35%. The initiative seeks to create over 500,000 direct and indirect jobs and position Saudi Arabia as a global leader in entrepreneurial skills by 2030.
The strategy emphasizes developing an integrated ecosystem to improve SMEs' access to financing, markets, and regulatory environments, enabling them to expand into new domestic and international markets.
Written by urgent.news from Saudi Gazette's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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