Deal signed to develop SMEs in Saudi Arabia’s Eastern Province

TThe agreement was signed in the presence of Eastern Province Gov. Prince Saud bin Naif. (SPA)
Updated 06 April 2019
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Deal signed to develop SMEs in Saudi Arabia’s Eastern Province

  • The deal aims to promote a culture of entrepreneurship and assist the development of small and medium enterprises

DAMMAM: The Eastern Province Chamber of Commerce and Industry and the General Authority for Small and Medium Enterprises (Monsha’at) signed a cooperation agreement in Dammam. It aims to promote a culture of entrepreneurship and assist the development of small and medium enterprises to help increase their contribution to the Saudi economy.

The agreement was signed in the presence of Eastern Province Gov. Prince Saud bin Naif.

It forms part of the chamber’s efforts to foster, support and develop small and medium enterprises through training programs and specialized forums and other activities.


Finance officials meet to map out Saudi Arabia’s budget plans

Updated 19 April 2019
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Finance officials meet to map out Saudi Arabia’s budget plans

  • Finance representatives of 150 government bodies meet for the Budget Forum 2020

RIYADH: Saudi finance chiefs have kicked off a major conference in the capital aimed at mapping out the Kingdom’s budget requirements.
Around 300 specialists representing 150 government bodies met at the InterContinental hotel in Riyadh for the Budget Forum 2020.
Minister of Finance Mohammed Al-Jadaan welcomed delegates to the second edition of the gathering organized by the Saudi Finance Ministry under the slogan “Partnership and Empowerment.”
Al-Jadaan said the ministry was focused on “partnership and commitment,” and sought to share the challenge of developing an effective budget to achieve the Kingdom’s ambitious goals.
“We are also committed to empowering financial leaderships to learn about the ministry’s programs and projects and provide training and qualification opportunities to the best international standards,” he added.
The finance chief said the budget planning process required the collaboration of multiple authorities and a clear strategy based on transparency. 
Items up for discussion at the forum included financial planning in governmental bodies, automation, and the promotion of revenues and efficient spending.
Finance Ministry steering committee chairman, Abdul Aziz bin Saleh Al-Freih, stressed the importance of the forum in getting the ball rolling at an early stage on formulating a general state budget.
Workshops were held on the sidelines of the conference focused on empowering government organizations, and a training program on financial planning and income estimations was also staged.