Saudi Gazette report

RIYADH — The Kingdom of Saudi Arabia has ranked 12th in the index of Venture Capital Availability, considered one of the most prominent sub-factors in World Competitiveness Yearbook 2020 issued by the World Competitiveness Center, the Saudi Press Agency reported.

This comes as a reflection of the General Authority for Small and Medium Enterprises (Monshaat) efforts to create a competitive environment that encourages the entry of new enterprises to the market and enables small and medium enterprises to grow and expand.

It will also enable them to find appropriate financing solutions and investment opportunities to raise their contribution to the gross domestic product to 35 percent by the year 2030.