New Delhi: The Small and Medium Enterprises General Authority (Monsha'at) participated in the Group of Twenty (G20) Young Entrepreneurs’ Alliance (YEA) Summit in India. The summit aimed to showcase the achievements and potential of entrepreneurs seeking to create an attractive business and investment environment.

The event was attended by various government and private entities, entrepreneurs, and investors from various fields.

During her participation in a dialogue session titled "Equal Opportunities,” the Director of the Women Entrepreneurship Department at Monsha'at Afnan Ababtain confirmed that the number of business incubator licenses in the Kingdom has exceeded 400.

Ababtain said over 60% of the beneficiaries from the “University Startups Initiative” were women, which has played a significant role in promoting entrepreneurship for women in various sectors.

During the summit, the Director of the E-commerce Unit at Monsha'at, Maram Al-Jishi, participated in a dialogue session titled "Digital Economy” where she discussed the current state of e-commerce in the Kingdom and its significant role in achieving positive indicators in the digital economy.

Al-Jishi emphasized that the Kingdom is among the ten fastest-growing countries in e-commerce, with an annual growth rate of over 32%. This is reflected in the increase in the number of e-commerce registrations by 17% during the first quarter of 2023, she noted.

The G20 YEA 2023 Summit is considered an opportunity to connect all participating G20 countries by presenting recommendations to the group's leaders to develop a global entrepreneurship environment.

It also provides investment opportunities for Saudi investors, contributing to enhancing international partnerships and the growth of Saudi startups.