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FinancialNews


  • 02-01-23

    SMEs drives Saudi Arabia economy along with targets of 2030 vision

    (MENAFN) Small and medium-sized enterprises are a driver to reckon with in Saudi Arabia as the nation, along with the targets highlighted in Vision 2030, carries on to diversify its economy which has been reliant on oil for 10s of years.

    Even when coronavirus unsettled worldwide economies, SMEs in Saudi Arabia stayed committed in their expansion under the visionary management of King Salman as well as Crown Prince Mohammed bin Salman.

    This year, when the world began regaining from the drop of the epidemic, the backing supplied by the administration to SMEs in Saudi Arabia was active in aiding them regain their momentum.

    With additional frameworks, reforms and economic backing targeted to establish an accommodative environment, the administration is transforming the SME industry into an engine for financial expansion in the nation.

    Saudi Arabia’s Small and Medium Enterprises General Authority, also recognized as Monsha’at, is driving the surge of the SME industry in the nation.

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