RIYADH: Saudi Arabia’s Small and Medium Enterprises General Authority will unveil $2 billion in initiatives and agreements across technology, tourism, entertainment, education, and financial services at the Biban 2025 Forum
Scheduled for Nov. 5–8 at Riyadh Front Exhibition and Conference Center, the event will be held under the theme “A Global Destination for Opportunities.”
The Kingdom has been actively expanding its entrepreneurial ecosystem under Vision 2030, targeting an increase in SME contributions to gross domestic product from 30 to 35 percent. With over 1.8 million SMEs currently operating, the government has implemented policies, funding programs, and strategic partnerships to support startups and attract international investment.
In 2024, Saudi Arabia led the Middle East in venture capital funding for SMEs, securing roughly $750 million.
In a release, Monsha’at stated: “The agreements and projects are expected to cover the technology, tourism, entertainment, education, and financial services sectors, enhancing integration between the public and private sectors and providing a stimulating environment for the growth and expansion of startups inside and outside the Kingdom.”
It added: “This reflects the rapid development of the Saudi entrepreneurship ecosystem as a major driver of the national economy.”
Biban 2025 will also feature international agreements with countries including Japan, South Korea, and Qatar, designed to attract regional and global companies to Saudi Arabia and position the Kingdom as a hub for startups and investment.
“This will contribute to enhancing funding opportunities and building quality partnerships that support innovation and growth in the local market,” the release said.
It added that the agreements seek to attract leading regional and global companies to the Saudi market, reinforce the Kingdom’s position as a global investment hub, foster a supportive environment for entrepreneurship, and establish it as a key destination for talent and startups worldwide.
Through Biban 2025, Monsha’at is continuing to strengthen the entrepreneurial ecosystem by launching targeted programs and forming strategic partnerships with key stakeholders.
The initiative aims to enhance the role of SMEs in the national economy, promote innovation and growth, and support the Kingdom’s Vision 2030 in building a thriving economic future.
Source: www.arabnews.com