Saudi female entrepreneurs increase by 35% in 10 years: Report

Saudi women attend the Jeddah Economic Forum in the Red Sea city of Jeddah, in this file photo taken on 26 February 2007. (AFP)
Updated 28 November 2017
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Saudi female entrepreneurs increase by 35% in 10 years: Report

JEDDAH: Saudi women account for 39 percent of the total number of entrepreneurs in the Kingdom, up 35 percent over the past 10 years, according to a report published by Al-Eqtisadiah on Sunday.
According to official statistics presented for World Entrepreneurship Day, the number of Saudi women entrepreneurs grew significantly from 2007 to 2017, from 4 percent to 39 percent, thanks to government and private support.
On Nov. 25, Prince Mohammad Bin Salman College of Business and Entrepreneurship (MBSC) hosted International Entrepreneurship Day activities by providing seminars and educational lectures to empower women globally.
The events were organized by the Council of Saudi Chambers, the National Commission for Entrepreneurship, the Small and Medium Enterprises General Authority, and in cooperation with private companies.
Dr. Nabil Kushak, the dean of MBSC, said that supporting and encouraging the creativity of women entrepreneurs contributes to the development of the economic cycle and provides an attractive and sustainable business environment.
“The role of women in the business and financial environment is an integral part of what we aspire to through our vision, which is an important direction in our responsibility toward the country.
"We aspire to strengthen our role not only as a higher private education college but also as a platform for ideas and commercial opportunities available to society.”
Sarah Al-Ayed, the ambassador of the regional Women Entrepreneurs’ Day in the Middle East and North Africa, presented an overview of regional and international initiatives and programs for World Entrepreneurship Day.
She pointed out that “the benefits given to entrepreneurs, especially women, are great. Women have proved their presence in the market. They are as trustworthy.”
She explained that “whoever says that Saudi youths do not work should reconsider and understand the size of projects being run by young men and women.”
More than 200 men and women students and entrepreneurs attended the event.
It included workshops and discussion sessions on the seven basic traits of the entrepreneurial personality, including motivation, innovation, risk, leadership, vision, flexibility and decision-making.


FaceOf: Ahmad Al-Khatib, chairman of the board of directors of the Saudi Arabian Military Industries

Ahmad Al-Khatib
Updated 27 May 2018
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FaceOf: Ahmad Al-Khatib, chairman of the board of directors of the Saudi Arabian Military Industries

  • Saudi Arabian Military Industries aims to aims to reduce the country’s reliance on foreign purchases of military products

JEDDAH: Ahmad Al-Khatib was appointed the chairman of the board of directors of the Saudi Arabian Military Industries (SAMI) in October 2017. 

He also holds the posts of chairman of the board of directors of the General Entertainment Authority (GEA) since 2016; chairman of the board of directors of the Saudi Fund for Development; adviser to the general secretariat of the Cabinet; adviser to the minister of defense; and adviser to the court of the crown prince.

Al-Khatib inaugurated on Friday the new facilities of the Aircraft Accessories and Components Company (AACC) at its new headquarters at King Abdul Aziz International Airport in Jeddah during a ceremony under the patronage of Crown Prince Mohammed bin Salman.

SAMI aims to reduce the country’s reliance on foreign purchases of military products and become one of the top 25 global companies in the field of military industries.

“Our goal is to localize more than 50 percent of the Kingdom’s military spending by 2030,” said the crown prince in his earlier statement.

Al-Khatib is a former adviser to the royal court, was the minister of health between 2014 and 2016, and served as the chairman for the Saudi stock company established in 2006, Jadwa Investment.

Al-Khatib has 23 years of experience in banking. In 1992 he joined the Bank of Riyad, working in various departments for 11 years and helping to establish the customer investment department. 

In 2003, Al-Khatib joined SABB Bank and participated in the establishment of Islamic Banking (Amanah). He then became the bank’s general manager.