Official Word

The establishment of the General Authority for Small and Medium Enterprises and the support of its revenues reflects the keen interest of the leadership in the importance of SME sector as it believes in its role in increasing the contribution of GDP from 20% to 35% according to Kingdom’s Vision 2030. One of the priorities of the General Authority for Small and Medium Enterprises “Monshaat” is to address three challenges: human resources, government bureaucracy, financing opportunities, and apply mechanisms to address them through partnership with related entities, as SMEs are considered a key pillar in economic development anywhere in the world. The Authority will continuously seek to provide technical support, consultancy and development of small and medium enterprises and increase their competitiveness in order to add value to the national economy, especially, as small and medium enterprises play a major role in enhancing economy and economic diversification and contribute effectively to sustainable development, job creation and create a supportive and incubating environment for creativity and innovation.

His Excellency Dr. Majid Bin Abdullah Al Qasabi

“Monsha’at’s” Chairman of the Board of Directors

The Government of the Custodian of the Two Holy Mosques provided great importance to the small and medium-sized enterprises sector. This interest is reflected on Monshaat’s vision to make the SME sector an essential engine for economic growth in Saudi Arabia and an enabler in achieving Vision 2030 and beyond, and its mission to develop and support SMEs to enable them to prosper by driving cooperation forward with our strategic partners in the public, private and non-profit sectors, both locally and internationally. Monshaat works carefully to remove obstacles facing enterprises, proposing regulations and policies, establishing capabilities, organize business incubators, spread an entrepreneurial culture, diversify of sources of financial support for small and medium enterprises, create investment opportunities, transfer technology, and develop a national strategy for small and medium enterprises.

Engineer. Saleh Bin Ibrahim Al-Rasheed

"Monsha'at's" Governor

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