In order to protect SMEs from economic recession, Saudi Arabia provided more than $80 billion in support to the businesses, according to the head of the authority known as Monshaat.
Saleh Al-Rahseed, speaking at GEC 2022 in Riyadh, said the Kingdom gave confidence to entrepreneurs and innovative companies not only by giving them cash but all kind of support.
“It wasn’t just cash injection that helped Saudi SME’s during the pandemic” he said.
Saudi Arabia has provided the needed regulations and advisory hubs
As a result Saudi ranked 2nd globally for the government support to SMEs.