Dammam, February 27th, 2011 - Saudi Arabian General Investment Authority (SAGIA) confirms its support to the SME Economic Forum 2011. The summit is endorsed by His Royal Highness Prince Mohamed Bin Fahad Al Saud - Governor of Eastern Province, and organised by naseba and the Asharqia Chamber. The forum takes place on March 29th - 30th 2011 at the Asharqia Chamber's headquarters in Dammam.

Mr. Fahd Hamidaddin, General Director of Marketing and Corporate Communication, also responsible for initiatives encouraging competitiveness,  mentioned that SAGIA's participation in the 2011 Small and Medium Enterprises Economic Forum is within the framework of its interest in this category of investment projects that serve as the base for social and economic development in the Kingdom, similar to the global economy.

Mr. Hamidaddin added that the Kingdom, in recent years, witnessed a great interest in supporting SMEs. There are several programs and initiatives which were adopted by governmental and non-governmental authorities to address the issues and challenges that faced such enterprises including issues dealing with finance, procedure facilitation and providing the services necessary for the establishment and operation of SMEs. In addition to providing technical and financial consultation, they were given guidance on how to mitigate risks and overcome potential obstacles associated with setting up a new business. He went on to mention that the Kingdom, within the past 5 years took several measures to facilitate the establishment of SMEs by way of reducing the capital needed and shortening the period of time tailored to international standards, which directly impacted being ranked 11th globally in the "Ease of Doing Business' report published by the World Bank.

SAGIA launched different initiatives that support and encourage competitiveness across the private sector, including the Saudi Fast Growth that aims at supporting and encouraging Saudi investors who established enterprises through various efforts. The SFG initiative provided many job opportunities, contributed to the increase of income for Saudis and had a positive effect on the Saudi economy. The small and medium enterprises represent the biggest portion of this initiative with owners ranging in age between 25 and 30 years old. Through this initiative SAGIA aims to raise competitiveness by providing the necessary services and facilities through the comprehensive service centers available at SAGIA and also by monitoring challenges with the aim of finding solutions.

As for the importance of supporting SMEs, Hamidaddin stressed the necessity for concerted and integrated efforts among the different areas that are interested in this particular segment. He then added that this initiative will help spread an entrepreneurial culture and spirit through various conferences and workshops where information and data will be presented. He finalized his statement by saying that the Chamber of Commerce's organization of the forum, the subjects to be discussed, and the review of the successful self made experiences through the participation of a number of governmental authorities represent a good opportunity for the owners of SMEs to be informed of distinctive practical experiences and the latest developments in this field.

Commenting on SAGIA's support towards the SME Economic Forum 2011, Fabien Faure, Managing Director of naseba commented, "This forum plays a crucial role for the development of the SME sector in Saudi Arabia. The participation of SAGIA reflects on the various and continues support from the Saudi Arabian government to help develop and elevate the SME sector within the Kingdom."

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About naseba
naseba produces, promotes and hosts business summits, professional training courses and business exhibitions targeting executive level attendees across multiple vertical industries. Each event is focused on re-education, networking and creating a 'deal-flow' platform for all participating organisations. Whether the 'deal' is raising capital, vendor sales contracts or sourcing a strategic partner, naseba provides clients with an unprecedented, high-ROI environment for conducting business. An in-house team of experts conduct extensive research in conjunction with recognised thought leaders to ensure that all events are relevant, timely and at the forefront of market and industry trends.

naseba works in partnership with leading media, industry and local authorities such as International Data Corporation (IDC), International Business Consultancy Group (IBCG), Saudi Trading and Resources Co. Ltd. (STAR Group Holdings), ICLIF Leadership & Governance Centre, CNBC Arabia, Zawya, Council of Saudi Chambers, Principality of Monaco, Singapore Tourism Board, Abu Dhabi Health Authority, Egyptian Ministry of Civil Aviation, Ministry of Economy - UAE, Ministry of Environment and Water - UAE, Qatar Civil Aviation Authority, the Government of Dubai and many others.

Since its inception in France in 2002, naseba has organised over 400 events and played host to 58,000 executive delegates globally. Operating from four strategically located offices, naseba has on-the-ground presence in Bangalore, Cairo, Dubai, Kuala Lumpur, Monaco, Riyadh and Singapore.

At naseba, we make it happen.

For more information on naseba, please visit www.naseba.com

Contact
Mohamed Al Moussa,
Marketing Manager,
Email: mohamedm@naseba.com
Tel: + 971 4 367 13 76

© Press Release 2011