‘SMEs can create 4 million jobs for Saudis’

Updated 06 February 2013
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‘SMEs can create 4 million jobs for Saudis’

Small and medium-sized enterprises (SMEs) can create between three and four million jobs for Saudis, provided they have access to finance and face less government bureaucracy, said Tariq Abu Ouf, assistant professor of Entrepreneurship at Jeddah’s University of Business and Technology.
He said that SMEs around the world create more jobs than major multinationals.
Abu Ouf said the Kingdom has 980,000 registered commercial establishments and companies, with a total of 70 percent, or about 630,000 establishments, categorized as SMEs. If each of these companies employs five Saudis, then three to four million jobs will be created, representing about 60 percent of the Saudi work force.
“We cannot ignore the significant role SMEs play in terms of creating jobs for young Saudis. However, for them to provide jobs they have to take their time and have to be motivated."
He said SMEs face many obstacles including lack of access to finance, training for entrepreneurs and "long government procedures."
He said 80 percent of more than 600 male and female entrepreneurs involved in a survey conducted by his university said they could not complete their projects because of government bureaucracy.


Kingdom's anti-corruption chief leads Saudi delegation at UN General Assembly

Dr. Khalid bin Abdul Mohsen Al-Muhaisen, president of Nazaha and head of the Saudi delegation, will stress the Kingdom’s anti-corruption efforts locally and internationally. (Shutterstock)
Updated 23 May 2018
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Kingdom's anti-corruption chief leads Saudi delegation at UN General Assembly

  • The meeting will be attended by UNGA President Miroslav Lajcak, UN Secretary-General Antonio Guterres and Yuri Fedotov, executive director of the UN Office on Drugs and Crime

JEDDAH: Saudi Arabia, represented by a delegation from the National Anti-Corruption Commission (Nazaha), will take part on Wednesday in a high-level meeting of the UN General Assembly (UNGA) to mark 15 years since the adoption of the UN Convention against Corruption. 

The meeting will be attended by UNGA President Miroslav Lajcak, UN Secretary-General Antonio Guterres and Yuri Fedotov, executive director of the UN Office on Drugs and Crime.

The opening session will discuss the most notable developments and best practices in the application of the UN Convention against Corruption, which has been adopted by 184 countries, including Saudi Arabia. The meeting will conclude with a speech by Lajcak.

Dr. Khalid bin Abdul Mohsen Al-Muhaisen, president of Nazaha and head of the Saudi delegation, will stress the Kingdom’s anti-corruption efforts locally and internationally.