Monsha'at to support the Saudi Trade Finance Summit 2019

Reports suggests that there has been a steady growth in the economy with a positive import-export trade balance. Consequently, the region exports 2.5 times more than their import revenue with 99% of the private sector comprising of SMEs

  
Sidh, Director, QnA International

Sidh, Director, QnA International

Riyadh, Saudi Arabia: The Kingdom of Saudi Arabia, being the second-largest Arab state, over the last ten years has grown by 520 billion USD. Reports suggests that there has been a steady growth in the economy with a positive import-export trade balance. Consequently, the region exports 2.5 times more than their import revenue with 99% of the private sector comprising of SMEs

Small & Medium Enterprises General Authority (Monsha’at) will be the supporting partner of the prestigious 7th Annual Saudi Trade Finance Summit, the kingdoms biggest trade finance platform. Hosted under the theme of ‘Enabling the Kingdom’s vision for a better future’, The summit will take place on November 13th -14th, 2019 at Crowne Plaza Riyadh RDC Hotel & Convention, KSA.

In line with Saudi's Vision 2030, the 7th Annual Saudi Trade Finance Summit will provide a platform for the Government Authorities and the Kingdom’s booming private sector to have thought provoking trade finance conversations through its informative conference sessions and unparalleled networking opportunities that emphasize on the diversification of the economy to help realize the role of financial institutions and corporates in achieving the Kingdom’s Vision through sustainable growth.

With the ongoing economic status and the diverse developments witnessed in the region, through their participation, Monsha’at will highlight its role and initiatives implemented to support the SMEs and various contributions done in order to shape the economy of the Kingdom.  

Over the years, SMEs are claimed to be a backbone of any successful and sustainable economy. Likewise, the Kingdom has a strong blueprint for the SMEs constituting almost 90% of registered businesses and 60% of the total employment in the region with a total count of 1.97 million. SMEs are powerful and authentic organizational bodies that have the capability to increase globalization, exploit opportunities and trade across the globe. Through the Saudi Trade Finance Summit, Monsha’at will highlight the efforts implementing strategic plans that will further grow the SME sector by supporting innovative businesses, facilitating programs for start-ups and enabling more opportunities for the residents of Saudi Arabia.

A study conducted by the General Organization for Statistics shows that Saudi executives mark up to 18.5% of the Kingdom’s total number of employees, the second-largest after the age group 35-39 making a total of 17.3%. According to Saudi Vision 2030, the country aims to increase the contributions of SMEs of Saudi Arabia’s GDP from 20% to 35% in addition to competing with G20 companies.  Commenting on the plan, Saleh Al-Rasheed, Governor of Small and Medium Enterprises General Authority Monsha’at “The SME sector has grown to have a fundamental role in diversifying the Saudi economy by providing potential employment opportunities for the national workforce and extensively supporting with digital tools. In line with the Saudi Vision 2030, this is not only going to contribute to the growth but also enhance the quality of work and development showcased by the Kingdom.”

Commenting on Monsha’at’s partnership with the biggest and one-of-a-kind event in the region, Sidh N.C, Director, Saudi Trade Finance Summit says “The Kingdom’s transformation has been massive where government bodies and private organizations are aiming to implement diverse economic and social reforms. We are extremely excited to have Monsha’at on board with us and are looking forward to their significant contribution to the SME division in the Kingdom’s economy.”

The two-day conference and awards will be highlighting the latest trade finance trends, innovation and strategies that have shaped the industry in the region. This exclusive closed-door conference has added seven unique elements including SME Focus, Innovation lab, engaging activities, CFO recognition, supporting partner, digital savvy and success stories. Saudi Trade Finance Awards will put a spotlight on the Kingdom’s brightest minds in the Finance Industry and celebrate their contributions towards fulfilling the Country’s key strategies in line with the Saudi Vision 2030.

About QNA International

QnA International creates and delivers business learning and development exchange platforms through B2B conferences, bespoke events and trainings. The company also has an expertise in outsourced sponsorship sales and key account management. www.qnainternational.com 

Dimple Menezes
dimple@yardstick-marketing.com
Tel: +971 55 612 6298
Shreya Suresh
shreya@yardstick-marketing.com
Tel: +971 524752986

Manoranjani Sampath
manoranjani@yardstick-marketing.com
Tel: +971 55 235 6386

Yardstick Public Relations
PO Box - 116125, Dubai, United Arab Emirates
Tel: +971 4 351 8584

© Press Release 2019

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.


More From Press Releases