The General Authority for Small and Medium Enterprises was established in 2016. Its objectives are to organize, support, develop and sponsor the SME sector in accordance with international best practices, to increase the productivity of these enterprises and increase their contribution to GDP from 20% to 35% by 2030.
Minshat is responsible for developing, implementing and supporting programs and projects to promote entrepreneurship and entrepreneurship, innovation and diversification of sources of financial support for enterprises, stimulating bold capital sector initiatives, setting policies and standards for financing projects classified as small and medium enterprises, Administrative and technical support for the establishments and their support in developing their administrative, technical, financial, marketing, human resources and other capabilities.
It also works to support the establishment of specialized companies in financing, activate the role of banks and lending funds and stimulate them to play a larger and more effective role in financing and investing in enterprises, establishing and supporting the programs required for the development of enterprises, in addition to establishing comprehensive service centers for establishments to issue all the regulatory requirements, And electronic services to relevant public and private entities.
Minshat is keen to remove administrative, regulatory, technical, procedural, informational and marketing obstacles facing the establishments in cooperation with the relevant authorities, and to create incubators for technology and incubators for the business and organization, as well as to develop programs and initiatives to create investment opportunities for the establishments and to identify them and to transfer related technology Such facilities and productivity, including supply chains.
In addition to the preparation of studies, research, statistical surveys and reports, MESHAT has been cooperating with ministries, government agencies, and international organizations in terms of MESHAT's mandate, organizing conferences, seminars, meetings, internal and international exhibitions and other activities related to the establishments. And the proposed regulations, regulations and policies for the development and support of enterprises, and follow-up implementation after adoption.
