As part of its ongoing efforts to accelerate economic development and nurture national talent, the Ministry of Economy and Planning in the Kingdom has launched a new program aimed at empowering youth, entrepreneurs, and small and medium-sized enterprises (SMEs), strengthening their active participation in the national economy.
The program is designed to build a comprehensive ecosystem that enhances the capabilities of young people in entrepreneurship and provides them with promising opportunities to enter and thrive in the labor market. It also aims to support SMEs, recognizing them as a vital engine for sustainable economic growth.
Key components of the initiative include improving the regulatory and legislative environment, facilitating access to funding and incentives, and delivering advanced training, innovation, and capacity-building programs tailored to the needs of emerging businesses.
This initiative stems from the Kingdom’s strong belief in youth as a driving force for economic and social transformation. It is aligned with Vision 2030, which places people at the center of development and aspires to build a diverse, knowledge-based economy rooted in innovation.
The program will also foster stronger public-private sector collaboration and stimulate investment in entrepreneurial ventures and youth-led projects, contributing to job creation and economic diversification.
The Ministry emphasized that the program will include clear performance indicators and impact assessment mechanisms to ensure long-term success and sustainability. Empowering youth and SMEs is a strategic pillar in the Kingdom’s ongoing economic transformation journey.
