The Governor of the General Authority for Small and Medium Enterprises (Monshaat), Engineer Saleh bin Ibrahim Al Rasheed, emphasized that 2019 would be a better year for small and medium enterprises, where a number of initiatives have been launched, especially in terms of funding, as one of the most important challenges facing these enterprises.
Al-Rasheed, during a meeting with the Chairman and members of the Board of Directors of Asharqia Chamber and a number of entrepreneurs in the Eastern Region, said that Monshaat launched several initiatives during the past year, most notably "Tomouh" program, supporting financing solutions, implementation of the SME support program with the Ministry of Labor, launching of entrepreneurship parks and supporting centers for small and medium enterprises.
Al-Rasheed predicted that 2019 will be a positive year for small and medium enterprises, as a number of initiatives will be completed, most notably in the finance sector as a challenge for SMEs.
He added, "we will launch the financing platform and launch a financial awareness campaign."
For his part, the chairman of Asharqia Chamber, Abdul Hakim bin Hamad Al-Ammar Al-Khaldi, said in his speech during the meeting, "The Kingdom has paid great attention to small and medium enterprises that to set it at the top of the objectives of Vision 2030, which represented a new starting point in the development and sustainability of the national economy and played a leading role in stimulating the culture of entrepreneurship. The incentives were offered between procedural, regulatory and financing within a strategic direction aimed at making these facilities one of the cornerstones of economic development in the country."
Al-Khalidi pointed out that Asharqia Chamber is seeking to play a distinct role in supporting small and medium enterprises by providing excellent services and high quality, which will support its continuity and improve its competitiveness.
Also, it launched a number of programs, seminars and workshops aimed at developing and developing and enhancing its performance to attract more capital to it through encouraging them to compete and upgrade in the local market.
He pointed out that the Small and Medium Enterprises Authority plays a leading role in organizing, supporting, developing and sponsoring the sector in the Kingdom according to the best international practices.
It contributed - undoubtedly - to create a stimulating regulatory and investment environment, which increases the productivity of these enterprises and their contribution to GDP in line with the goals and aspirations of the vision of 2030.
He expressed the hope that the business sector in the Eastern Region will recognize the small and medium enterprises' owners, the strategic plan, its programs and its future initiatives to upgrade the SME sector in the Kingdom.
For his part, Chairman of the Commercial Committee in Asharqia Chamber, Hani Al-afalq, said that small and medium enterprises is one of the most important foundations and axes to achieve a diversified and sustainable economy.
It promotes creativity, innovation and job creation for national labor forces and promotes the growth of non-oil exports.
Besides these economic values, they have a positive role that cannot be overlooked in all the social and cultural development tracks pursued by our good government.
Al-Afalq added, "We all agree that Vision 2030 is an opportunity for the SME sector to expand and spread through opening up new sectors that can accommodate many small and medium enterprises. It has paved the way for many catalysts and treatments and provided the appropriate climate for the application of ideas and innovations and facilitated the exercise of activities and businesses. The contribution of the enterprise sector in GDP will be at the level of ambitions compared to the advanced economies."
Asharqia Chamber recognizes the importance of the continuity of the dialogue and its role in overcoming the challenges and providing specific and unique treatments for all the topics under discussion.
The meeting was attended by the two Vice-Presidents of the Chamber Al-Riziza and Hamad al-Bouali, and the members Ibrahim Al-Sheikh, Badr alabdulkarim, Bandar Al-Jabri, Abdul Rahman Al-Suhaimi, Nasser al-Bajash, Najib al-Sihaati, as well as a large number of businessmen and businesswomen.
