Entrepreneurship & SMEs Development – Saudi Arabia’s NTP 2020 Relevant Initiatives and Associated Costs
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Disclaimer: This is an unofficial document prepared by Osama M. Ashri. Reference: Saudi Arabia’s National Transformation Plan 2020 http://vision2030.gov.sa/sites/default/files/NTP_En.pdf The purpose of the document is to highlight the relevant initiatives for nurturing the entrepreneurship and SMEs sector in Saudi Arabia. The relevance of the initiatives is assessed by the author of this document. The NTP might include other direct and indirect related initiatives.
Entrepreneurship & SMEs Development – Saudi Arabia’s NTP 2020 Relevant Initiatives and Associated Costs
- 1. Entrepreneurship & SMEs Development – Saudi Arabia’s NTP 2020 Relevant Initiatives and Associated Costs Disclaimer: This is an unofficial document prepared by Osama M. Ashri. Reference: Saudi Arabia’s National Transformation Plan 2020 http://vision2030.gov.sa/sites/default/files/NTP_En.pdf The purpose of the document is to highlight the relevant initiatives for nurturing the entrepreneurship and SMEs sector in Saudi Arabia. The relevance of the initiatives is assessed by the author of this document. The NTP might include other direct and indirect related initiatives. No. Relevant Initiative Responsible organization Cost SAR (000) * 1 Establish and support business incubators and business entrepreneurship centers Ministry of Commerce & Investment 48,000 2 Develop and promote programs and contents of the freelance and business entrepreneurship culture Ministry of Commerce & Investment 29,000 3 Deploy initiatives led by the government to support the development of small and medium enterprises Ministry of Commerce & Investment 250,000 4 Launch of essential value added applications and essential and electronic services to support small and medium enterprises Ministry of Commerce & Investment 45,000 5 Develop financing services to support small and medium enterprises through their various development engagement Ministry of Commerce & Investment 1,000,000 6 Create awareness and marketing campaigns and forums for small and medium enterprises Ministry of Commerce & Investment 35,000 7 Establish information centers for small and medium size enterprise sector Ministry of Commerce & Investment 42,000 Total Cost of related Initiatives (Ministry of Commerce and Investment) 1,449,000 8 Internal volunteer tourism in collaboration with entrepreneurs Ministry of Social Affairs - -
- 2. Entrepreneurship & SMEs Development – Saudi Arabia’s NTP 2020 Relevant Initiatives and Associated Costs Disclaimer: This is an unofficial document prepared by Osama M. Ashri. Reference: Saudi Arabia’s National Transformation Plan 2020 http://vision2030.gov.sa/sites/default/files/NTP_En.pdf The purpose of the document is to highlight the relevant initiatives for nurturing the entrepreneurship and SMEs sector in Saudi Arabia. The relevance of the initiatives is assessed by the author of this document. The NTP might include other direct and indirect related initiatives. 9 Develop and deploy the Independent Schools Model to reach 2000 schools run by small establishments1 Ministry of Education 50,000 10 Developing an awareness program on investment and entrepreneurship for high schools and university students Ministry of Education 49,900 99,900 11 Lead and guide IT business incubators in the Kingdom through a governance model that introduces requirements, incentives and performance indicators to raise the quality of incubators and efficiency of outputs Ministry of Communications and Information Technology 54,275 12 Design a program to stimulate e-commence among individuals and businesses and to provide technical and legal support necessary to start-ups, small and medium- sized enterprises and logistics companies Ministry of Communications and Information Technology 44,400 13 Organization of exhibitions and workshops brining together Information Technology entities and entities of the private sector to promote awareness of small and medium enterprises about the importance of key information technology services and products. Also to promote awareness of large companies on the importance of the next generation of Information Technology and products. Ministry of Communications and Information Technology 39,250
- 3. Entrepreneurship & SMEs Development – Saudi Arabia’s NTP 2020 Relevant Initiatives and Associated Costs Disclaimer: This is an unofficial document prepared by Osama M. Ashri. Reference: Saudi Arabia’s National Transformation Plan 2020 http://vision2030.gov.sa/sites/default/files/NTP_En.pdf The purpose of the document is to highlight the relevant initiatives for nurturing the entrepreneurship and SMEs sector in Saudi Arabia. The relevance of the initiatives is assessed by the author of this document. The NTP might include other direct and indirect related initiatives. 14 Implement the program to assess and classify the capabilities of small and medium enterprises in order to identify the maturity level of these enterprises and develop strategic transformation program for each enterprise in support of its growth Ministry of Communications and Information Technology 23,594 15 Introduce appropriate legislation to ensure that local small and medium IT enterprises receive a specific share of government IT contracts Ministry of Communications and Information Technology - 161,519 16 Transforming civil servants in support services to entrepreneurs Ministry of Civil Services 35,543 35,543 17 Business incubators and accelerators program King Abdulaziz City for Science and Technology 494,463 18 Program to raise the manufacturing capacity of small and medium sized enterprises King Abdulaziz City for Science and Technology 48,664 543,127 AGGREGATE COST (All initiatives) 2,289,089 (Two billion two hundred eighty-nine million eighty-nine thousand) * Costs of initiatives are for five fiscal years from 1437H/1438H to 1441H/1442H, which will be borne by the government (number doesn't include the contribution of the private sector in the initiative costs)