New business funding portal to help Saudi entrepreneurs

The event will run until April 6 at the Dhahran International Exhibition Center. (SPA)
Updated 05 April 2019

New business funding portal to help Saudi entrepreneurs

  • Initiative will allow startups to tap into funding channels by bidding for online offers from financial providers

DAMMAM: An initiative aimed at helping entrepreneurs to access business funding has been launched by Saudi finance chiefs.

The Kingdom’s Small and Medium Enterprises General Authority (Monsha’at) has signed joint agreements with a number of financial providers to allow business owners to apply for monetary backing through a newly established website.

The announcement came as 720 young entrepreneurs took part in the Biban Eastern Forum for small- and medium-sized enterprises (SMEs), being staged by Monsha’at at the Dhahran International Exhibition Center.

The event, organized in collaboration with the National Entrepreneurship Institute (Riyadah), runs until April 6 with the aim of supporting and developing the sector. Delegates were able to participate in more than 60 specialized training courses, lectures, workshops and interactive sessions.

And the new portal initiative will allow entrepreneurs, startups and innovators to tap into funding channels by bidding for online offers from financial providers.

It is the latest in a line of schemes launched by Monsha’at to help SMEs  in the Kingdom. The authority had previously set up a SR1.6 billion ($416 million) initiative to provide credits to businesses through the Saudi Arabian Monetary Authority (SAMA), in addition to establishing a SR2.8 billion ($728 million) fund to invest in SMEs.

Meanwhile, the forum gathering offered 36 training courses in subject areas including supply chains, human resources management, basic app programming, marketing, accounting, strategic planning, commercial franchises, and branding.

Thirty other specialized courses were dedicated to e-commerce, and included e-stores, business models and e-ideas.

Several other workshops were held offering guidance and information in areas such as industrial empowerment, risk management, micro-enterprise management, financial technology, bank financing, exports, smart leadership apps, entrepreneurship, data analysis, and human resources management of new projects.


Saudi Arabia participates in GCC archaeology exhibition

The pavilion features a series of documentaries on Saudi Arabia’s cultural heritage. (SPA)
Updated 21 January 2020

Saudi Arabia participates in GCC archaeology exhibition

  • Saudi Arabia’s pavilion hosts, 55 artifacts and relics covering different eras, including from the Stone Age, Bronze Age, and the pre-Islamic and Islamic periods

RIYADH: Saudi Arabia, represented by the national heritage sector at the Saudi Commission for Tourism and National Heritage (SCTH), is taking part in the 6th Joint Periodic Exhibition on the Archaeology of the Gulf Cooperation Council’s (GCC) Arab States in Kuwait.
The exhibition, held under the supervision of the secretary-general of the GCC, in partnership with the Kuwaiti National Council for Culture, Arts and Literature, opened last Wednesday at the National Museum of Kuwait and will run until Feb. 15.
The Kingdom’s pavilion hosts, 55 artifacts and relics covering different eras, including from the Stone Age, Bronze Age, and the pre-Islamic and Islamic periods.
The pavilion also features a series of documentaries on the Kingdom’s cultural heritage, a number of publications by the antiquities and museums sector on different areas of cultural heritage, as well as a collection of photographs and historical information on Saudi Arabia’s cultural depth.