Saudi Arabia's New SME Strategy to Generate 500,000 Jobs by 2030

Sep 15, 2026

64 min

Sep 15, 2026 19:31

Saudi Arabia to create more than 500,000 jobs under new SME strategy

## New Strategy for SMEs

Saudi Arabia has launched a comprehensive strategy aimed at boosting small and medium-sized enterprises (SMEs) to create over 500,000 jobs by 2030. This initiative is part of a broader effort to enhance the entrepreneurial ecosystem and increase SMEs' contribution to the national GDP to 35%.

## Government Approval and Initiatives

The Saudi Cabinet has approved this strategy, which includes 13 initiatives designed to improve the business environment. These initiatives focus on providing better access to financing, enhancing operational capabilities, and fostering innovation. The plan also aims to reduce business costs and improve regulatory frameworks.

## Economic Goals

The strategy sets ambitious targets, including positioning Saudi Arabia as a global leader in entrepreneurial skills by 2030. It seeks to create a more integrated ecosystem, allowing businesses to expand both domestically and internationally.

## Support for SMEs

Key measures include developing open commercial innovation, supporting SMEs in industrial zones, and increasing their role in government procurement. The strategy also emphasizes attracting international startups and enhancing financial literacy among entrepreneurs.

## Vision 2030 Alignment

This initiative aligns with Saudi Arabia's Vision 2030, aiming to leverage economic opportunities and strengthen SMEs' role in national development. The strategy reflects a shift from merely supporting business establishment to fostering growth and competitiveness.

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