The Small and Medium Enterprises General Authority “Monsha’at” announced the disbursement of the deposit amounts of the Estrdad initiative, which was designed in cooperation with the Local Content Unit (Namaa) as part of the Private Sector Stimulus Plan. Through the plan, Monsha’at seeks to facilitate the business of new companies and startups, with the aim of enabling them to grow and prosper and raising their contribution to GDP from 20% to 35%, in fulfillment of one of the most important objectives of Saudi Vision 2030.
The Governor of the Small and Medium Enterprises General Authority “Monsha’at”, Engineer Saleh Al-Rasheed, explained that the refund of government fees to eligible new companies and startups was made in accordance with the terms and conditions set out on the Estrdad initiative portal. He noted that the initiative has borne fruit by achieving its goal of enabling SMEs and easing their burdens, covering several refunded fees, including expatriate labor fees, commercial registrations, chamber of commerce subscriptions, municipal licenses, Saudi Post subscriptions, and other government fees.
Al-Rasheed stated that new companies and startups can register in the Estrdad initiative through the Estrdad initiative website.
The Estrdad initiative was launched at the beginning of 2018 to support and enable new companies and startups and to ease the burdens and obligations they bear.