17/02/2021
Al-Khalidi: The establishment of the Small and Medium Enterprises Bank is a serious step that improves the efficiency of the business environment and enhances growth opportunities
The Chairman of the Board of Directors of the Asharqia Chamber, Abdul Hakim bin Hamad Al-Ammar Al-Khaldi, said that the decision of the Council of Ministers issued yesterday, Tuesday, February 16, to establish the Small and Medium Enterprises Bank, (an important step and has direct implications for improving the efficiency of the business sector environment, and enhancing opportunities for growth and expansion of small enterprises And medium in the short term), noting that these facilities represent the backbone of the private sector and are a fundamental pillar in moving the national economy and enabling the realization of the 2030 vision AD, extending his thanks and appreciation to the Custodian of the Two Holy Mosques and the Prince for their efforts to support the business sector and support its participation in the growth process And the development the country is experiencing.
Al-Khalidi said that the step of establishing the bank, including the various financing products that it will offer in digital form, comes as one of the most important mechanisms that support and complement the serious steps taken by the state to raise the growth rates and the contribution of small and medium enterprises to the gross domestic product, stressing that the state has taken pioneering steps in strengthening the facilities. Small and medium-sized enterprises, and granted them multiple growth factors (procedural, regulatory, and financing), provided the appropriate environment for their expansion and spread, and facilitated many procedures for doing business, as part of an approach that aims to make these enterprises one of the pillars of sustainable growth in the country.
Al-Khalidi explained that establishing a bank for small and medium-sized enterprises would diversify the list of financing solutions for their pioneers to support their financial needs, achieve stability and growth for this vital sector, raise its readiness and motivate it to develop and modernize, increase its competitiveness, and thus move the national economy further, and provide many jobs for The national workforce, and the enhancement of the growth of the Kingdom's exports to the world, leading to a diversified and prosperous economy, expressing his optimism under the wise leadership of the country's economic future and the ability to achieve future goals.
