Awards for Excellence 2020
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A great deal of resources have been dedicated to small and medium enterprises in Saudi Arabia as the kingdom looks to increase SME’s contribution to GDP from 20% to 35% under its Vision 2030 programme.
In Saudi Arabia, 99% of private-sector companies are SMEs, although the sector lags behind regional and global peers in terms of size and value. Saudi SMEs contribute around 20% of GDP compared with 53% in the UAE and 45% on average among countries worldwide, according to research by Castlereagh Associates.
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