With the participation of more than 25 supporters, Prince Faisal bin Khalid bin Sultan, Governor of the Northern Borders Region, launched the Forum for Supporters of Small and Medium Enterprises Development, organized by the Chamber of Commerce and Industry in Arar
Prince Faisal bin Khalid bin Sultan bin Abdulaziz, Emir of the Northern Borders Region, inaugurated in the Hall of Prince Abdulaziz bin Musaed in Arar, the forum for supporters of small and medium enterprises (Inma), which was held in the period 26-27 / 11/1440 AH with the participation of 25 supporters.
Upon his arrival at the celebration headquarters, he toured the exhibition accompanying the royal peace, then the speech ceremony prepared for this occasion began with recitation of verses from the Noble Qur’an. The audience witnessed a visual presentation of the “Development” initiative.
Then the Governor of the Northern Borders Region delivered a speech in which he stressed the necessity of integrating the regional and sectoral dimensions to achieve the transformation that the Kingdom is going through, led by the Custodian of the Two Holy Mosques King Salman bin Abdulaziz, within the framework of the 2030 vision led by the Crown Prince, which is the transformation from the rentier economy that depends on sales income Oil, to a competitive productive economy with diversified income dependent on production, processing and export.
He stressed that this integration is crucial in achieving the big and ambitious goals, including increasing the private sector’s contribution to local production from 40% to 65%, and raising the proportion of non-oil exports from 16% to 50% of the non-oil GDP, and this means doubling exports more than triple.
He explained that the private sector will have the largest role in achieving this, and the state will enable it to do so by developing incentive and improved systems for the investment environment, and to provide all forms of support and assistance, especially in terms of financing, exporting and providing logistical services, and providing more investment opportunities through privatization and partnership programs between the two sectors Governmental and private.
He added, “Small and medium enterprises constitute 95% of the total private establishments, which makes empowering entrepreneurs a very important thing to raise their contribution to GDP, as targeted in Vision 2030 from 20% to 35%.”
He pointed out the necessity of exerting more effort in promising regions to motivate their children to invest their available opportunities, as it is in the northern border region in the field of manufacturing in the Waad Al-Shamal project, and in the field of industries and logistical services that demand will arise if activating commercial exchange with the sisterly Republic of Iraq, as well as in the field of Animal production and accompanying industries, in addition to the numerous investment opportunities offered by the Vision 2030 programs and new organizations.
He stressed the need for the forum to pay attention to the issues and problems of business leaders in the region in order to find effective effective solutions to address and address them, including identifying promising investment opportunities in the region, and providing appropriate financing opportunities, guidance, incubators and marketing, export and financial management problems, calling for the adoption of accurate measurement indicators to monitor the impact of plans and awareness programs, Support and assistance, especially in terms of measuring the growth rates of small and medium enterprises, increasing their success rates, increasing financing, reducing the percentage of bad or bad debts, and measuring the extent of their contribution to the gross domestic product, employment and employment.
After that, the sponsors, speakers and participants were honored, and commemorative photos were taken.
To cooperate with the relevant authorities in boosting the Kingdom's exports through land ports in the northern border region. Attracting internal and external investments to the northern border region. Working to reduce unemployment rates in the region, especially among women. Create an appropriate environment for small and medium enterprises in the region to play a major role in achieving the desired development. Development of the chamber and raising its efficiency in serving the region's economyMore