The establishment of the Small and Medium Enterprises General Authority ‘Monshaat’ and the support of its revenues reflects the eagerness and diligence of our government. We think of Monshaat as a catalyst SMEs sector, and a realizer of their crucial role in increasing the contribution of the GDP from 20% to 35% to effectuate Vision 2030. Monshaat prioritizes addressing the top 3 challenges faced by the sector, namely, human capabilities, government bureaucracy, and financing opportunities by developing tools to engage with stakeholders. Globally, SMEs are a fundamental pillar of economic development. Accordingly, ‘Monshaat’ will support SMEs with technical support, provide consultation, and unlock development potentials. Our goal is to empower SMEs to become the defining element of our economy’s advancement. We realize how SMEs are integral to solidifying and diversifying the economy, ensure sustainable development, generate job opportunities, and serve as an incubator for creativity and innovation.
H.E. Dr. Majid Bin Abdullah Al Qasabi
Chairman of the Board of Directors of the General Authority for Small and Medium Enterprises " Monsh
The Government of the Custodian of the Two Holy Mosques is uncovering new horizons for development for SMEs. Such an inspiring commitment will carve a trail towards success for ‘Monshaat’ to empower SMEs to become a key driver of economic development in Saudi Arabia in line with Vision 2030. This unswerving commitment was reflected in Monshaat’s mission to support SMEs in unlocking new growth potentials by joining-forces with its strategic partners in the public and private, and non-profit sectors, locally and internationally. ‘Monshaat’ impetus for the advancement of ventures for things to come. Our role is unfold solutions to surmount obstacles facing SMEs, propose laws, regulations, and policies, build capacities, organize business incubators, cultivate a culture of entrepreneurship, diversify sources of financial support, unlock investment opportunities and technology transfer, and develop a national strategy to improve this promising sector.
Eng. Saleh bin Ibrahim Alraheed
Governor of the Board of Directors of the General Authority for Small and Medium Enterprises " Monsh