https://arab.news/w5krq
- Number of small and medium-sized enterprises has more than doubled from 429,000 in 2016 to more than 1.2 million
- Innovation hackathon initiative provides a platform for young men and women to develop creative solutions for labor market challenges
RIYADH: The Saudi Ministry of Human Resources and Social Development marked World Entrepreneurs鈥� Day, observed annually on Aug. 21, by highlighting its commitment to enhancing the work environment and empowering youth and entrepreneurs through various initiatives that support Saudi Vision 2030.
The number of small and medium-sized enterprises has more than doubled from 429,000 in 2016 to more than 1.2 million, reflecting the ministry鈥檚 success in supporting entrepreneurs and expanding self-employment opportunities.
The ministry has implemented several key programs to achieve its goals. An innovation hackathon initiative provides a platform for young men and women to develop creative solutions for labor market challenges.
Additionally, the Youth Development Strategy, launched in 2024, includes more than 20 initiatives to qualify and empower young people, leading to the establishment of the General Administration for Youth Development and a professional certificate for youth work.
The ministry鈥檚 social security empowerment program has been highly successful, achieving a 33.7 percent empowerment rate for beneficiaries by qualifying and supporting 23,394 individuals in the first quarter of 2025.