<The G20 Young Entrepreneurs Alliance Summit, which concluded its work in Istanbul recently, recommended discussing the development of education to support entrepreneurship and SME development, measures to address youth employment and support accompanying programs to encourage small and medium enterprises (SMEs), and called for facilitating visas for entrepreneurs in the G20 countries and developing a structured global visa program for them to encourage international mobility, emphasizing the importance of the key role of governments in developing an entrepreneurial culture that supports youth to start their own projects and identifying best practices in encouraging entrepreneurship “incubators and incubators”. The summit called on G20 governments to review bureaucratic barriers to enterprise formation and growth, develop and promote harmonization of international standards to build SME capacity, adopt policies that address tax and financing issues for high-impact SMEs to encourage entrepreneurship and facilitate access to capital and new markets, and private equity investments to broaden and deepen the reach of SMEs.

The summit called on G20 governments to review bureaucratic barriers to enterprise formation and growth, develop and promote harmonization of international standards to build SME capacity, and adopt policies that address tax and financing issues for high-impact SMEs to encourage entrepreneurship and facilitate access to capital and access to new markets. <Abdulaziz Al-Mutairi, head of the Saudi delegation and general manager of the Centennial Fund, said that the summit supported the promotion of new economic strategies and the development of an entrepreneurial culture, in addition to strengthening international cooperation between entrepreneurs, encouraging entrepreneurship and sustainable development at the national and global levels, and supporting innovation, technology and investment. He pointed out that the summit sessions witnessed a distinguished Saudi and Gulf presence headed by the Centennial Fund. The delegation included about 42 members, including the Industrial Development Fund, Jazan University, Kafala Program, Riyad Bank, Investment Bank, Jeddah Chamber, and a number of businessmen and women from the Gulf countries (UAE, Kuwait, Qatar and Oman) as a new confirmation of the effectiveness of the Gulf presence in decision-making related to entrepreneurs in the global environment.

The summit supported the new economic strategies and the culture of entrepreneurship.