Riyadh – Mubasher: Saudi Arabia’s Ministry of Commerce and Industry has launched the first centre to enable and support small and medium enterprises (SMEs) in the kingdom, commerce and industry minister Majid bin Abdullah Al Qasabi revealed.
The first of its kind, the centre is meant to support SME establishments across the kingdom and ensure their continuity, the minister said in a statement on Sunday, indicating that the centre will provide business people and entrepreneurs with services on how to launch commercial businesses an well as facilitate procedures for them.
The launch took place at the SME General Authority (SMEA), also known as Monsha’at, which recently launched a number of initiatives to support SMEs such as the initiative to refund government fees, the indirect loan initiative, and an ambitious investment initiative.
Through these initiatives, Monsha’at seeks to increase SMEs’ contribution to Saudi Arabia’s gross domestic production (GDP) to 35% from its current 20%.
