Announced today: a purpose-built licence, allowing foreign entrepreneurs and inventors to launch their activity in Saudi Arabia. The dedicated licence is a first for the Kingdom.
Entrepreneurs and creative individuals are now welcome to set up shop on Saudi soil, and conduct their business activity. The new entrepreneurship licences, announced today at the MiSK Global Forum in Riyadh, target Small- to Medium-sized Enterprises and complement a transition of the Kingdom towards a diversified economy, through the recently launched national strategy named Vision 2030.
Announced over the two-day high-level conference, the move by the General Authority for Small and Medium Enterprises (Monsha’at, the Saudi Arabia General Investment Authority
(SAGIA); the King Abbdullah Economic City (KAEC) and the Economic Cities Authority (ECA).
“This initiative, inspired by Vision 2030, will help Saudi Arabia in attracting the best minds, promoting knowledge transfer, developing its economy, increasing the contribution of SMEs to the GDP an to create jobs for Saudi people,” explained Dr. Ghassan Ahmed Al Sulaiman, who heads the Saudi Arabian General Authority for SME. “We’re announcing this at the MiSK Global Forum since it’s a global event, convening young leaders and innovators”.