The event, which will continue until Monday, is being organized for the third time in the Kingdom.

"The International Business Leadership Week is an annual event conducted in many countries around the world. This year, 104 countries are participating in the event from Nov. 15 to 21. The week seeks to encourage young businessmen and remove their anxieties," Director General of the Centenary Fund Abdul Aziz Al-Mutairi said in a statement to Arab News on Monday.

Al-Mutairi added that the lectures and workshops organized as part of the week would dispel the fears and hesitations some young businessmen might feel at their initial stage in business. Successful businessmen would speak on their experiences and the methods they followed to surmount initial difficulties, he said.

The newcomers to the business world will also get an insight into the formalities they should complete and the departments they should approach to facilitate their activities. 

Similar events will be organized in all provinces with the aim of spreading a culture of inventiveness for free business activities in all social sectors, he said.