Dr. Sulaiman: Small
institutions Development Plan.
Baroness
Elizabeth: Britain is seeking to develop and deepen the economic relations with the
Kingdom.
Al Ataishan:
We seek to exchange experiences andthe transfer of best practices and experiences
in both countries.
The head of the General Committee for small and medium institutions, Dr. Ghassan Al Sulaiman, explained the increase in the strategic plan
for the development of small and medium institutions to a high place by the end of the current Hijri
year 1438. He pointed that the number of
companies and establishments under the name of small and medium, as the total private sector in the Kingdom is
99.7%.
Al
Sulaiman said in the Second
Saudi-British Small and Medium institutions
Partnership Forum organized by Asharqia Chamber on Tuesday, April 4, 2017: A
small category of this sector is about 1% classified under the fast growing
small and medium institutions to transform them into large companies through
a program that will be launched about a month from now. Its own structure has
been finalized and is part of a plan that includes several programs, including
another program to transform micro institutions into Small and medium institutions.
Regarding the financing of these institutions, Al
Sulaiman said that the subject of funding is taken in a comprehensive view and
not as previously in the hands of commercial banks only, as they seek to solve the dilemma of financing
suffered by some projects through several ways,, including government
funding and bank financing, in addition to their work on the development of new
mechanisms, It
has developed the general plan of the Committee and approved by the Board of
Directors and we are working on a national plan to improve this sector in the Kingdom and then we will build the
structure through which we start the actual work of the committee and this does not mean that they did
not provide initiatives of the sector, some were applied and
the other on the way to the application where we have established a Trademark
Association (Franchise), which distributed the first draft, as well as the
bankruptcy system in addition to the establishment of the daring Capital Association.
On
the other hand, the head of the
Arab-British Chamber of Commerce and the British Council President Baroness Elizabeth Simons
said that Britain is seeking to develop and deepen economic relations with the
Kingdom and that they are keen to participate in the vision of 2030, especially
that the amount of trade exchange
between Britain and the Kingdom amounted to about 7 billion pounds by the end of 2016
She
added that the visit of the Prime Minister of Britain Kingdom translate into
the depth of the close relations between the two countries in various fields.
And
Baroness Forum showed that it is of great importance in the development of
supply chains and support cooperation in all fields as well as being an
opportunity to discuss partnership in the fields of oil and gas to the Kingdom
of British technical transfer.
On
the other hand, the Chairman of the Chamber of Asharqia Chamber of Commerce Abdulrahman Al Atishan
said that the Chamber seeks to exchange experiences and transfer best practices
and experiences in both countries in relation to small and medium institutions,
which is one of the most important engines of economic growth in the country. The
Kingdom of Saudi Arabia is one of the biggest trading and investment partners
in the Middle East. We in the Kingdom are seeking the strategic direction for by 2030 become one of the main pillars of
economic development in the country.For his part, the
Secretary General of the Chamber Abdulrahman Al Wabel said that the Chamber is
always ready to offer all means to facilitate the holding of such important
forums that benefit businessmen and in
the Eastern Region, especially with the presence of officials in the private
and government sectors.
For
his part, the supervisor of support for the program to improve the content in Saudi Aramco Umran Hariri,
the intention of a group of local
investors to establish a 100% Saudi giant
drilling company that competes the
drilling companies that work with Aramco now, such as Schlumberger and others,
explaining that the annual expenditure of Saudi Aramco is up to 140 billion,
of which 2 billion riyals are spent on the consumables used in drilling operations, all
imported from outside the Kingdom, indicating that they are through a program
of sufficiency seeking to settle 50% of them by 2020, either by localization of
industries or resort to local alternatives.
Vicar of the Saudi Aramco of
procurement and supply Abdul Aziz Abdul Karem said that the company has
contracted more than 1,600 British suppliers over the last five years with a
value of more than 50 billion riyals to import services, noting that Saudi
Aramco has 230 contracts with British suppliers for more than 60 billion riyals
"Saudi
Aramco is working on increasing local
suppliers by 2021 to create jobs and increase exports by 50 percent," said
Muhammed Al Adil, head of Saudi Aramco marketing, "local purchases reached
10 billion riyals in 2016, Pointing
that the amount of annual expenses on
goods and services amounts to 1.4 trillion riyals, stressing that Aramco is moving to improve plans to localize local industries by
about 20 billion riyals.
