SMEs account for 90% of Saudi industrial sector: Minister

Saudi Minister of Industry and Mineral Resources, Bandar Alkhorayef

The industrial base in most countries consists of small and medium-sized enterprises (SMEs), Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef said during an interview at Monsha'at Support Council in Riyadh.

He added that SMEs dominate 90% of the industrial sector in Saudi Arabia.

Alkhorayef indicated that the ministry facilitated investors' access to their projects by covering all the investment phases, starting from the idea to completing the project.

He further pointed out that entrepreneurs deal with an integrated system that covers all aspects, from licensing and infrastructure to supporting and financing exports, enabling them to operate within a fully integrated chain.

The ministry is working to reduce project costs and risks for entrepreneurs and SMEs owners, he added.