Saudi small and medium enterprises represent around 99.2 percent of total private sector institutions in the Kingdom, governor Ghassan bin Ahmed Al Sulaiman said on the sidelines of BIBAN 2017 SME Forum.

 

This percentage is close to the rate in European Union, Canada and Malaysia.

 

SMEs contribute 3 percent to Saudi exports, Al Sulaiman said, adding that Saudi Arabia seeks to raise the share of SMEs in the economy from 22 percent to 35 percent, or $2.2 trillion, so that Saudi Arabia could be ranked 15th among the global economies, in line with Saudi Vision 2030.

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