Saudi Arabia’s Small and Medium Enterprises General Authority, Monsha’at, is set to announce a landmark $2 billion in initiatives and agreements aimed at significantly strengthening the Kingdom’s small and medium-sized enterprise (SME) ecosystem. The major unveiling will take place at the upcoming Biban 2025 Forum, scheduled from November 5 to 8 at the Riyadh Front Exhibition and Conference Center under the theme “A Global Destination for Opportunities.”
Bolstering Vision 2030 Goals
This substantial investment is a core component of Saudi Arabia’s Vision 2030, which aims to diversify the national economy and reduce its reliance on oil. A key objective of the vision is to increase the contribution of SMEs to the national GDP from 30% to 35%. The Kingdom, already home to over 1.8 million SMEs, has been actively implementing policy reforms, funding programs, and strategic partnerships to create a fertile ground for entrepreneurs and attract global investment.
Driving Public-Private Collaboration
The new initiatives are designed to enhance collaboration between the public and private sectors, fostering a more dynamic environment for startups to launch and scale both within Saudi Arabia and internationally. This move builds on strong existing momentum; in 2024, the Kingdom led the Middle East in venture capital investment for SMEs, attracting approximately $750 million. Monsha’at stated that these efforts reflect the “rapid development of the Saudi entrepreneurship ecosystem as a key driver of the national economy.”
Fostering International Partnerships
Biban 2025 will also serve as a platform for cementing Saudi Arabia’s position as a leading global hub for innovation and investment. The forum is expected to feature the signing of international cooperation agreements with key economic partners, including Japan, South Korea, and Qatar. According to Monsha’at, these partnerships are designed to attract regional and global companies to the Kingdom, “enhance funding opportunities, and build quality partnerships that support innovation and growth in the local market.”
About Monsha’at
The Small and Medium Enterprises General Authority (Monsha’at) was established in 2016 to regulate, support, and develop the SME sector in the Kingdom of Saudi Arabia. It works to increase the productivity of SMEs and their contribution to GDP by implementing and supporting programs that foster a culture of entrepreneurship, innovation, and investment.
Source: Fast Company Middle East
