17 Dhu al-Qi'dah 1445 - 25 May 2024
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Eye of Dubai
Business & Money | Sunday 22 October, 2023 12:09 pm |

Monsha'at supports 160 enterprises to list on stock market

As many as 160 enterprises were qualified for listing on the stock market, of which 14 were already listed, with the support of the Small and Medium Enterprises General Authority (Monsha'at), Sami Alhussaini, Monsha'at Governor stressed in his speech during Riyadh’s CEOs Forum dated Oct. 18.


The authority seeks to stimulate the growth of SMEs and create opportunities for their business local and regional expansion, within the framework of Monsha'at’s “Ambitious Program” that covers more than 1,000 of the Kingdom’s best enterprises.


The program’s total investments exceeded SAR 1.5 billion since 2022, Alhussaini added, noting that the authority posted around 40% leap in revenues at a total value of SAR 16 billion in 2022.


In addition, over 17,000 enterprises that contribute more than 50% of the total growth in the proportion of SMEs' contribution to the GDP.


Concluded on Oct. 18, the sixth edition of the CEOs Forum organized by Monsha'at, under the patronage of Minister of Commerce and Monshaat Chairman Majid Al-Qasabi, with the participation of more than 1,100 entrepreneurs and stakeholders, discussed significant topics in relation to promoting the investment environment, developing global investment strategies, and exploiting growth opportunities in accelerating SMEs’ economies.


Artificial intelligence’s impact on reshaping business sectors was also put up for discussion.


The forum witnessed nearly 80 advisory sessions, 56 investment opportunities, while it hosted 17 investors and representatives of investment entities, 23 SMEs’ exhibitors, 20 local and international speakers, and eight agreements inked, covering various financing areas in support for SMEs.





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