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Labor and Social Development" and "Monsha'at" sign a service launch agreement under the SME Services Initiative

Publication date: 21 September 2022 - 25 Safar 1444
"العمل والتنمية الاجتماعية "و "منشآت" توقعان اتفاقية إطلاق 9 خدمات ضمن مبادرة خدمات المنشآت الصغيرة والمتوسطة

The Ministry of Labor and Social Development and the General Authority for Small and Medium Enterprises (SMEE) signed an agreement to launch the Small and Medium Enterprise Services Initiative (SME), which includes nine services, to stimulate small and medium enterprises, increase business continuity and create job opportunities. Stimulating citizens. The ceremony was held in the presence of His Excellency the Minister of Trade and Investment, Chairman of the Board of Directors of the General Authority for Small and Medium Enterprises, Dr. Maged Bin Abdullah Al Qasabi, Minister of Labor and Social Development Eng. Ahmed Bin Sulaiman Al Rajhi, and HE Minister of Education Dr. Hamad Bin Mohammed Al-Sheikh. The agreement was signed by Deputy Minister of Labor and Social Development Dr. Abdulla bin Nasser Abothneen and the Governor of the General Authority for Small and Medium Enterprises, Eng. Saleh bin Ibrahim Al-Rasheed. The agreement, which will be implemented in cooperation with the partners of the initiative, the Social Development Bank and the Human Resources Development Fund, aims at supporting small and medium enterprises, making them an attractive environment for investment, improving their employment environment and attracting them to national cadres. . This initiative provides features that directly contribute to the empowerment of the SME sector, including: the issuance of up to 9 instant visas for full-time employees, the provision of a one-year grace period from the registration of the Natifat program for emerging enterprises, "Maras". The initiative also includes the new Saudi employee account directly at Nqatat, the job vacancy service at Taqat portal, the support service for small and medium-sized enterprises that are localized to senior leaders, and the support of establishments that employ the " . Dr. Majid Al Qasabi said that SME is the main engine of any economy and the cornerstone of development for its contribution to the creation of youth employment opportunities, stressing that the vision of the Kingdom 2030 is a vision of socio-economic and political structure and an ambitious future plan to reach the Kingdom. Huge wealth and human energy. For his part, Eng. Ahmed Al-Rajhi said that the agreement includes the launching of nine services that will help stimulate the private sector to expand Emiratisation and raise the participation rates of national manpower in the labor market, targeting individuals, small and medium enterprises and large and large enterprises. Al Rajhi pointed out that the agreement focuses on entrepreneurs to grow and start business activities in the targeted sectors, especially as they include their own incentives such as ease of incorporation and access to ministry services, indicating that the agreement aims to turn young people from job seekers to entrepreneurs. He pointed out that this agreement is an extension of the agreements concluded by the Ministry with the Ministry of Health, the Ministry of Communications and Information Technology and the Ministry of Housing, in order to train and rehabilitate the national forces and join them in the labor market, in line with the directives of the wise leadership. For his part, Eng. Saleh Al-Rasheed said that Minshat is keen to enhance cooperation with ministries, authorities and authorities in terms of its competences. It is working diligently to regulate the sector of small and medium enterprises in the Kingdom and to support, develop and sponsor it according to the best international practices. GDP from 20% to 35% by 2030. The signing of this agreement reflects Minshat's keenness to develop and support small and medium-sized enterprises to enable them to prosper by leading cooperation with strategic partners in the public, private and non-profit sectors locally and internationally.

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