Over 8 million employed in Saudi SME sector, expert says
More than 8 million people work in Saudi Arabia’s SME sector, which now contributes 23% to GDP, with a target of 35%, according to a finance professor.
Key Takeaways
AIDr. Mohammed Makni, professor of finance and investment at Imam Mohammed bin Saud University, said that more than 8 million people are employed in the small and medium enterprises (SME) sector, which currently contributes 23% to Saudi Arabia’s GDP. The goal is to raise this figure to 35%.
Speaking to Al Ekhbariya channel, Makni added that access to financing was previously a challenge for the sector, but growth has accelerated thanks to the Kingdom’s Vision 2030 strategy.
Makni noted that the SME sector is vital for creating economic diversification in Saudi Arabia.
View the post on X