The Board of Directors of the General Authority for Small and Medium Enterprises was formed from 14 government entities, chaired by the Minister of Commerce, with the membership of representatives from the Ministries of Finance, Planning, National Economy, Labor, Education, General Investment Authority, Saudi Monetary Authority, Saudi Credit and Savings Bank, Council of Chambers of Commerce and Industry, Saudi Industrial Development Fund, Human Resources Development Fund, King Abdulaziz City for Science and Technology, Governor of the General Authority for Small and Medium Enterprises and two persons interested in this field.
The Board of Directors of the General Authority for Small and Medium Enterprises is formed from 14 government entities. <The Council achieves the Authority's objectives in organizing, supporting, developing and nurturing the enterprise sector in the Kingdom, in accordance with international best practices, to raise the productivity of these enterprises and increase their contribution to GDP and increase the absorptive capacity of the Saudi economy, leading to job creation, job opportunities for the national workforce and localization of technology. The Authority is responsible for defining, classifying and evaluating enterprises, preparing a national strategy for enterprises, and following up on its implementation after its adoption.
The Council is also responsible for establishing and supporting a national strategy for enterprises. The Council also establishes and supports the mandatory development program and the establishment of comprehensive service centers for enterprises, and works to remove administrative, organizational, technical and procedural obstacles, create technology facilities and business incubators, organize them and cooperate with ministries and government bodies, as well as international organizations.
The Council is also responsible for defining, classifying and evaluating enterprises, preparing a national strategy for enterprises, and following up on its implementation after its approval.
