Increase in small and medium enterprises in Saudi; The number has crossed 12.5 lakh

Dammam: The number of small and medium enterprises in Saudi Arabia has increased again. It is reported that the number of small and medium enterprises in the country has crossed 12.5 lakh. The increase was recorded in the figures for the third quarter of this year. The report was published by the General Authority of Small and Medium Enterprises or Munsha.

In the third quarter of the current financial year, a growth of 3.5 percent was recorded in the number of small and medium enterprises. The figures released by the authority indicate that the total number of enterprises in the country has exceeded twelve hundred and seventy thousand. Riyadh province has the highest number of institutions – 43 percent.

18.3 percent of institutions are operating in Makkah Province and 10.8 percent in Eastern Province. 11 lakh micro enterprises, 1.51 lakh small enterprises and 18,000 medium enterprises are functioning. New ventures are coming more in the construction sector, support and services sector and tourism sector. Special financial assistance is also being prepared at the government level to support enterprises.