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Forum set to focus on ways to support SMEs
Published in The Saudi Gazette on 25 - 05 - 2013

RIYADH – A large number of officials and representatives of business and banking sector experts will focus for two days to on the situation of Saudi small and medium-sized enterprises and the challenges they face to enhance their role in economic development and increase employment opportunities available for Saudi citizens.
“The Saudi International Forum for Small and Medium Enterprises” is considered as the most important framework to deliberate in this vital sector. The forum will be held under aegis of Dr. Ibrahim Al Assaf, Minister of Finance and organized by the Saudi Industrial Development Fund –Kafalah Program, and Saudi Credit and Savings Bank in cooperation with Al-Iktissad Wal-Aamal Group on May 28-29, at Four Seasons Hotel here.
The event will attract more than 600 participants from policymakers and decision-makers from the public and private sectors and banks, and they will deliberate about ways to develop the existing initiative and programs to support SMEs and enhance their role in economy, and promoting programs and sources of funding available to it through the Saudi Fund for Industrial Development to ensure Saudi Credit and Savings and Saudi banks and other sources, in addition to the role that could be played by the private sector, especially big companies in support and development of small and medium enterprises.
Major Saudi banks that are active in funding SMEs will participate in the forum like National Commercial Bank, Al Riyadh Bank, Samba Bank, Al Rajhi Bank, Arab National Bank. Saudi British Bank, Saudi Hollandi Bank, Al Bilad Bank, Saudi Investment Bank & Al Jazirah Bank. In addition to the participation of major companies and Al Fanar.
The forum falls in line with the special attention given by the government of Custodian of the Two Holy Mosques King Abdullah to promote and develop SMEs. It is the government's intent to strengthen SMEs leading role in achieving balanced development in the Kingdom by launching several constructive and targeted initiatives that aim at supporting and developing this vital sector. The forum also falls within the efforts of the Saudi Industrial Development Fund–Kafalah Program, and Saudi Credit and Savings Bank to consider mechanisms and ways of supporting SMEs within the multiple economic and social variables that highlight the important role of SMEs in promoting and developing economies throughout the world.
Thirty-five speakers and researchers, over two days, will assess the role of banks in financing small and medium enterprises, and the role of the private sector and major companies in support and development of these facilities, in addition to reviewing the most important programs and initiatives that deal with the funding and support the small and medium enterprises. They include program to ensure the financing of small and medium enterprises, include national Entrepreneurship Institute, Inc. Center for Entrepreneurship Aramco "promising", the company and Riyadh Techno Valley.
It also will display a number of international experience and regional development sector, small and medium enterprises, such as the Japanese experience, Korean, Malaysian, German and Lebanese, as well as the active participation of the International Finance Corporation of the World Bank, which will provide a comprehensive overview of the developmental impact of the development of this sector is based on the experiences of the typical cases derived from various countries around the world. — SG


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