The forum, titled “Mubadarat,” will be held on Dec. 3- 4, 2012, at the Jeddah Center for Forums and Events, according to the managing director of Sunaidi Exhibitions, Haya Al-Sunaidi.

Mubadarat will be the first event to be organized by the recently established Reed Sunaidi Exhibitions, a partnership between Reed Exhibitions and Sunaidi Exhibitions in Saudi Arabia.

According to the organizers, the forum will be the first in a series of events to be held in light of the growing demand for events to help explore and promote the strengths and needs of the Saudi economy.

According to Al-Sunaidi, Mubadarat aims to promote Saudi plans to foster and encourage Saudi youth to start up their own businesses as part of a national policy to diversify economy and improve business opportunities for Saudi citizens.

“Mubadarat forum is coming as a response to Saudi entrepreneurs’ ambitions, aspirations, and as a reflection of the Saudi government strategy to support youth,” she said.

Al-Sunaidi added, “We consider Mubadarat as a simple addition to the many steps that aim to encourage Saudi youth. However, we view the forum and exhibition as a very important initiative, as it will assemble an elite group of Saudi entrepreneurs, whose initiatives will become real businesses of high quality.”

According to the managing director, contributions of Saudi young businessmen in this event will be a valuable addition to the business and macro-economic community.

According to organizers Reed Sunaidi Exhibitions, the first edition of Mubadarat is launched in Jeddah because it is considered the commercial capital of the Kingdom. “We have to admit that the Kingdom, through provision of practical and methodological solutions to challenges, is currently experiencing a wave of young Saudi entrepreneurs starting up their own businesses. The forum will act as springboard for youths’ startups,” she said.

According to Al-Sunaidi, the Saudi economy is one of the most dynamic and powerful economies in the world and the fastest growing economy in the region. The Kingdom is set to continue playing this vital role in the future.

She noted that ambitious plans and programs in the Kingdom generally and in Jeddah particularly provide an irresistible incentive for all businessmen — mainly youth – to have their share in implementing these projects.

Al-Sunaidi mentioned that Saudi banks were intending to offer SR300 billion to finance new projects and expansions of SMEs over the next five years, according to official Saudi sources.

She asserted that Saudi young men under 40 years played a key role in the Saudi economy, as this group accounts for 70 percent of the Kingdom’s job market. It is considered the most rapid growing group within the workforce with an annual average growth of 5.7 percent.

Frederic Theux, president of Reed Exhibitions in the Middle East, confirmed that Saudi Arabia over the past decades had shown development drive and the extraordinary ability to encourage initiatives and entrepreneurs.

“Saudi Arabia’s government is giving opportunities for youth, whose visions are translated into strategies of action and huge investment. Such governmental encouragement leads to development programs and makes this land a workshop in various sectors,” he said.

He added that the forum featured a series of activities providing the latest ideas, advice, solutions and opportunities, in which young Saudis would meet experts from companies, banks and funds and discuss cooperative work together.

“Over the recent years, entrepreneurs’ initiatives made monumental achievements in all sectors, making the Kingdom, which is still known as an oil giant, a model of economic diversification. There is no doubt that successful industrial and agricultural projects are standing today as one of the main pillars of the Saudi economy and are key contributors to its GDP, which has reached an unprecedented rate,” he said.

Mubadarat forum presents an array of events, including starting-up projects, business developments, and franchise for prospective franchisees.

The event hosts several activities such as a conference, exhibitions, workshops and launching clinics in addition to an activity called the “Business Angles Forum,” which will facilitate networking for Saudi youth seeking funds to start up their own businesses, seekers of business opportunities and businessmen interested in diversifying their business portfolios.