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FinancialNews


  • 29-12-22

    Monsha’at report: Saudi SMEs industry registers 83 percent surge in investors

    (MENAFN) The amount of stockholders in the nation’s small and medium enterprises industry surged by 83 percent up until the end of September this year in comparison with the same time span in 2021, as shown by data issued by the General Authority for SMEs.

    The authority, known as Monsha’at, attributed the spectacular expansion to a package of initiatives and facilities it presented this year to drive and facilitate shareholders in the industry, as reported by the Saudi Press Agency.

    In line with the report, the amount of micro and SMEs in the nation surpassed 970,000 as of the July-September period of this year.

    These establishments, it also stated, collected up to SR221 billion (USD58.7 billion) value of credit services from banks and additional economic institutions until the end of June this year.

    In the meantime, the overall amounts disbursed in the indirect lending initiative for the July-September period reached an amount of SR2.85 billion, profiting from 2,500 establishments.

    MENAFN29122022000045014228ID1105364479

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