The Prince of the Eastern Province inaugurates 'RAD 2023' in its seventh edition.
On Monday, His Royal Highness Prince Saud bin Nayef bin Abdulaziz, the Prince of the Eastern Province, inaugurated the activities of the "RAD 2023" forum and exhibition. The event is organized by the Asharqia Chamber, represented by the Youth Business Council, in its seventh edition. The event takes place at the Dhahran International Exhibition Center, with wide participation from government entities, entrepreneurs, funds, centers, and agencies responsible for entrepreneurship in the Kingdom.
His Royal Highness, the Prince of the Eastern Province, emphasized the importance of supporting entrepreneurs. He praised the efforts of the Asharqia Chamber of Commerce in organizing events that contribute to serving entrepreneurs in line with the state's direction to promote entrepreneurship, highlight successful experiences, and provide support for young people entering self-employment. This support extends to those with innovative ideas and emerging projects, aiming to enhance the effectiveness of youth performance in light of the implementation of the goals of Saudi Vision 2030.
The exhibition, which continues until Wednesday, November 15, 2023, aims to support the state's efforts in promoting entrepreneurship by showcasing successful experiences. The event hosts sessions with the Minister of Industry and Mineral Resources, Mr. Bandar bin Ibrahim Al-Khorayef, and the Deputy Minister of Commerce, Dr. Iman bint Habas Al Mutairi, among other dignitaries. It aims to provide suitable frameworks for young people interested in self-employment, as well as those with innovative ideas and emerging projects. The focus is on how to access the local and global markets and enhance the effectiveness of youth performance in light of the implementation of the goals of Vision 2030.
His Highness honored the sponsors and supporters of the exhibition and toured the exhibition, where more than 300 establishments run by young entrepreneurs are participating. During his tour, he listened to an explanation from the Chamber's president, Badr bin Suleiman Al-Ruzzaiza, about the exhibition, its pavilions, objectives, and the prominent services and businesses offered by the participating entities.
The Chairman of Asharqia Chamber of Commerce expressed appreciation for the patronage and honor bestowed by His Highness the Prince of the Eastern Province on the exhibition. He affirmed that this sponsorship contributes to supporting the chamber's activities and initiatives, giving them the necessary momentum to continue organizing and hosting exhibitions and forums. He added that the honor from His Highness adds value to the forum, highlighting its importance in developing the entrepreneurship sector.
He emphasized that the exhibition provides an effective environment for communication, supporting the exploration of opportunities and capturing the necessary opinions, ideas, and perspectives to support the ongoing development and growth in the entrepreneurship ecosystem and small and medium-sized enterprises (SMEs) in the Kingdom. He mentioned that as of the second quarter of the current year, the number of these establishments reached 1.23 million, showing a 2.6% increase compared to the first quarter of the same year.
He stated that since the launch of Vision 2030, Saudi Arabia has taken pioneering steps in developing and enhancing the entrepreneurial work environment. The Kingdom has provided suitable means to accommodate and embrace ideas, significantly facilitating business practices. This aligns with the goal of making entrepreneurship one of the pillars of sustainable growth in the country.
Continuing, and based on aspirations and efforts, and believing that youth are the wealth of nations and the cornerstone of sustainable development, Asharqia Chamber has given great attention to the youth. It has launched initiatives and programs, held workshops and meetings, aiming to stimulate them to engage in business activities and contribute their innovations to the national economy. The seventh edition of the exhibition today, with its visions, goals, and the experiences presented by more than 300 establishments run by young men and women in various fields, confirms the Chamber's solid strategy to promote the concept of "youth economy" and provide everything that can lead them towards entrepreneurship.
He pointed out that in light of the new economic realities within the targets of the Vision, and with the opportunities, mechanisms, and tools provided to empower youth to develop their fundamental and future skills and expand their knowledge in various economic fields, everyone can see the progress that youth are making. He said, "Today, with this edition and the participating youth, we find ourselves facing a generation that demonstrates its ability to innovate and contribute positively to the national economy. They present alternative perspectives, different innovations, and distinctive experiences, taking us into a world of unconventional ideas within contemporary contexts of future technologies.
He explained that this edition of the exhibition has several advantages, starting with opening doors to investment opportunities and benefiting from the experiences available at the exhibition. It further enhances skills by providing opportunities for development and innovation, exploring various sectors of the economy. Additionally, it facilitates communication between entrepreneurs and their counterparts from the Arab Republic of Egypt, which is participating in the exhibition with 40 establishments as the honored guest of this edition. It also enables interaction with various entities, funds, centers, and agencies that support entrepreneurship in the Kingdom.
Saad bin Khalid Al-Mujil, the Chairman of the Youth Business Council at the Chamber, stated that "RAD 2023" is an extension of the successes achieved by previous editions. It aims to spread the culture of self-employment among young men and women, providing opportunities for innovators and ambitious individuals by promoting their ideas and introducing their innovations. The goal is to encourage their positive involvement in the field of entrepreneurship.
Al-Mujil emphasized that it is inconceivable to have economic or social development without the involvement of the youth, who represent a fundamental pillar within the foundations of Vision 2030. He considered them a solid base capable of adapting to changes and most capable of interacting and responding to the requirements of the targeted development and growth process.
He highlighted the support provided by the state to elevate young entrepreneurs and propel them into the realm of economic activity. This support has proven to tap into reserves of creativity and innovation, enriching the national economic movement and supporting its sustainability. He noted that while the exhibition showcases the products and innovations of young entrepreneurs, it also affirms that the culture of production and self-employment has found its place. Self-employment has become an integral part of the future choices for youth, serving as a sanctuary to unleash their potentials and explore their talents.