Minister of Culture and Information Dr. Abdulaziz Khoja, Minister of Labor Adel Fakieh and Minister of Commerce and Industry Tawfiq Al-Rabiah have announced new procedures that their ministries will adopt to support young business men and women.
Khoja said his ministry will launch a TV channel focusing on young people and is aimed at shedding light on young people’s enterprises, plans and hopes, and it will be run by qualified young Saudis. The ministers made their remarks at the Fifth Young Businessmen Exhibition that concluded this week in Jeddah. The labor minister said the ministry is continuing to implement King Abdullah’s continuing directives to support young businessmen and the small enterprises sector.
The sector is facing challenges such the fact that the 800,000 small enterprises that constitute 90 percent of all companies and private establishments registered in the Saudi market has become a hotbed for tasattur, known as cover-up businesses where foreigners run businesses under the names of paid Saudis.
Therefore these enterprises’ statuses and the problems that obstruct their benefits to the economy and people must be studied. As a result, a mechanism enabling a smooth coordination between ministries and other government agencies to support them must be reached, said Fakieh.