Riyadh – Saudi Ministries of Labor and Social Development and Commerce and Investment have agreed on a number of mechanisms aimed at supporting small and medium enterprises, within the framework of Saudi Arabia’s Vision 2030 and the National Transformation Program.

A joint statement issued following a meeting on Thursday said the two ministries have agreed to support small and medium enterprises by adopting special mechanisms, in line with the goals of the National Transformation Program 2020.

Minister of Labor and Social Development Dr. Mufrej Al-Haqbani stressed the importance to strengthen SMEs to revive the country’s economy and create more job opportunities in the Kingdom.

For his part, Minister of Commerce and Investment Majed Al-Qasabi said Saudi Arabia’s economy was looking towards the development and promotion of small and medium enterprises, which would support national economic reforms, in line with Saudi Arabia’s Vision 2030 and the National Transformation Program.

The meeting also discussed the establishment of a permanent committee that would include the ministries of labor and social development and commerce and investment, as well as the committee for medium and small enterprises to promote the capacities of SMEs sector and facilitate visa procedures and other administrative and government measures in this regard.