Saudi Arabia’s Council of Ministers has approved the National Strategy for Entrepreneurship and Small and Medium Enterprises, according to data reported by Argaam.
The General Authority for Small and Medium Enterprises, Monsha’at, said the strategy is designed to strengthen the business environment, improve sector efficiency and expand SMEs’ access to markets and financing.
The framework aims to support the growth of existing SMEs, build a more enabling entrepreneurship ecosystem and strengthen the country’s entrepreneurial culture. It also seeks to make it easier for entrepreneurs to start and operate businesses, while supporting innovation.
Monsha’at said the strategy was developed to address challenges facing entrepreneurs and SMEs, simplify their business journey and increase the sector’s contribution to the national economy. The authority added that the strategy is intended to create a stronger environment for investment across economic sectors.
The Council of Ministers approved the strategy during a session chaired by Crown Prince and Prime Minister Mohammed bin Salman.
Source: Argaam
