Shura Council Approves Draft Proposal for SMEs
| June 26, 2012 – The Shura Council has approved a set of draft regulations to establish a separate authority for small and medium-sized enterprises (SMEs). The new organization will coordinate the promotion of SMEs with relevant government agencies and propose plans to improve investment in the SMEs sector. The Shura Council also requested that the Real Estate Development Fund allow SMEs to settle their loans in convenient installments. According to the Saudi Arabian General Investment Authority (SAGIA), it is estimated that SMEs represent the largest sector in Saudi Arabia. |