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 Launch Of The Saudi International Forum On Small and Medium Enterprises

Riyadh - Khaild Al-Motawa 

Launch Of The Saudi International Forum
Small and Medium Enterprises
At The End Of The Coming Month Of May

Under the auspices of the Minister Of Finance, H.E., Dr. Ibrahim Al-Assaf, the Saudi Industrial Development Fund “Small and Medium Enterprises Loan Guarantee Program” and the Saudi Credit and Saving Bank organize, in collaboration with the Business And Economics Group, “The Saudi International Forum On Small and Medium Enterprises” on the 28th and the 29th of May 2013G in Riyadh City.

Convention of the Forum symbolizes keeping up with the ongoing ardent efforts of supporting and developing the Small and Medium Enterprises sector and strengthening its role in creating new job opportunities, achieving social and economic development in less – developed areas and diversifying the national economic base.  This is to be attained by propounding a number of initiatives and ameliorating the programs supporting the sector.

The objective of the Forum is to discuss the means and mechanisms of supporting and developing the Small and Medium Enterprises sector taking into account the influential socio-economic variables. This is to be accomplished by identifying the efforts exerted by the private sector and major companies in support of Small and Medium Enterprises and the traditional programs for financing such enterprises as well as reviewing examples of successful international experiences in support of the sector and means of benefitting from such experiences.

During its two-days session, the Forum will include policy makers from government agencies, banks, investment and financial institutions as well as business men and women, experts and Saudi, regional and international entrepreneurs.         

Also, the Forum will open its doors to the young business men and women to present their success stories, interact with experts in the sector and embrace new visions and ideas about the best practices for enhancing their businesses and enterprises.

The Director General of the Saudi Industrial Development, Ali Bin Abdullah Al-Ayid indicated that the ninth development plan of the Kingdom emphasized creation of the necessary frameworks for patronizing, organizing and upgrading the Saudi small and medium enterprises sector. He attributed that to the significant  role of the sector and its contribution to the diversification of the economic base, provision of new job opportunities, increasing productivity, motivating innovation and availing opportunities for establishing new enterprises.

Al-Ayid pointed out that the Forum represents a palpable example of SIDF’s assiduous efforts to support the small and medium enterprises in realizing their envisaged anticipations by filling the credit gap in financing these enterprises.

Al-Ayid depicted the Forum as huge assembly of elites concerned in the public and private sectors of the Kingdom, a sizable number of officials and representatives of the regional and international institutions and a group of global experts who exchange their ideas and views, present their experiences and discuss how to make the best of them in supporting and developing the small and medium enterprises sector.

On the other side, the Director General of the Saudi Credit and Saving Bank, Dr. Ibrahim Bin Abdulaziz Al – Henaishil reiterated the significance of such conventions where a group of those engaged in the sector, experts and those concerned come at one place.

He indicated that the small and medium enterprises sector enjoys the keen interest of the government of the Custodian of the Two Holly Mosques. However, efforts exerted in support and development of the sector still need increased intensity and organization. He added that we need to unite the efforts and expedite coordination among the parties involved in the sector, and this is, exactly, what we are doing in the Saudi Credit and Saving Bank in collaboration with related parties.

Furthermore, Al – Henaishil said “ In the light of the existence of government financing funds and institutions, funding is no longer a problem today. In order to realize success in their projects, young business men and women need appropriate qualification, non-financial support, and regulations and legislations which facilitate establishing, sustaining and safeguarding their projects against situations of default. This is really what the entrepreneurs need. At the end of the line, this serves the best interests of our country”.    

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