Arab News
Arab news, Mon, Oct 27, 2025 | Jumada al-Awwal 5, 1447
Saudi Arabia to unveil $2bn in SME initiatives at Biban 2025
Saudi Arabia:
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.