RIYADH: New licenses were issued on Wednesday to encourage the world’s entrepreneurs and inventors to start up in the Kingdom and boost growth of the small and medium-sized enterprise (SME) sector.
Minister of Commerce and Investment Dr. Majid Al-Qassabi issued 11 new licenses on the sidelines of the Second Misk Global Forum, which was inaugurated on Wednesday.
Senior officials from the Monsha’at, Saudi Arabia’s SME Authority, the Saudi Arabia General Investment Authority, King Abdullah Economic City (KAEC), King Abdulaziz City for Science and Technology and the Economic Cities Authority were present during the launch of the new program.
Before handing over the licenses to 11 entrepreneurs, Al-Qassabi said the effort was to promote the SME sector as well as to diversify the economy of the country in line with Saudi Vision 2030.
Knowledge industries represent a particularly high-growth sector: Saudi Arabia’s young and educated population has one of the world’s highest digital adoption rates, and the knowledge sector is characterized by small and medium, innovative companies.
“Saudi Arabia offers extraordinary opportunities for foreign innovators and investors. This is an incredibly dynamic market with a young, entrepreneurially inclined population and significant latent demand in high-growth industries. We know we have the talent — our job now is to match-make and help provide the opportunities,” said Dr. Ghassan Al-Sulaiman, governor of Monsha’at, stressing that foreign entrepreneurs would bring with them innovation and expertise and help local youths to get to know their operations.
“The new licensing initiative is designed to help build up the private sector and move away from an over-reliance on oil revenues,” said Al-Sulaiman. This initiative, he said, was inspired by the Vision 2030, which will help Saudi Arabia to attract the best minds in the world, transferring knowledge, expanding the economy, increasing the contribution of small and medium-sized companies to GDP and creating jobs for Saudis.”
Fahad Al-Rashid, CEO of KAEC, said the new regulations enabled entrepreneurs to establish a business in the city. The Kingdom has given several incentives such as free housing, transportation and education for children to attract foreign investors.
Opportunities for foreign entrepreneurs are ‘extraordinary’ in Saudi Arabia
Opportunities for foreign entrepreneurs are ‘extraordinary’ in Saudi Arabia
Crown prince sponsors launch of world-class Arabic calligraphy center in Madinah
- The Prince Mohammed bin Salman Global Center for Arabic Calligraphy was inaugurated by Prince Salman bin Sultan bin Abdulaziz
RIYADH: A new center for Arabic calligraphy under the patronage of Crown Prince Mohammed bin Salman officially opened in Madinah on Monday.
The Prince Mohammed bin Salman Global Center for Arabic Calligraphy was inaugurated by Prince Salman bin Sultan bin Abdulaziz, governor of Madinah region.
He was joined by Culture Minister Prince Badr bin Abdullah bin Farhan, touring the new facility’s exhibition spaces and receiving briefings on cultural programming and the center’s achievements.
They also viewed collections highlighting Arabic calligraphy’s artistic and historical importance.
Speaking at the opening, Prince Badr said: “From this land of enlightenment and scholarship, we proudly launch a global platform dedicated to Arabic calligraphy as an invaluable cultural asset.”
He went on to credit the crown prince’s “generous and boundless support” for the cultural sector.
The minister said that the center demonstrated to the world the legacy of Arabic calligraphy while underscoring Saudi Arabia’s commitment to safeguarding its cultural identity and heritage.
According to Prince Badr, the facility represents an ambitious vision to elevate Arabic calligraphy as both a universal communication tool and an integral element of Arab heritage, art, architecture and design.
The center further aims to enhance the Kingdom’s cultural identity and strengthen its international presence, targeting calligraphers, emerging talents, visual artists, Islamic arts researchers, educational and cultural institutions, as well as art and heritage enthusiasts worldwide.
It will deliver specialized programs including research and archival services, calligraphy instruction, academic grants, a permanent museum, touring exhibitions, an international calligraphy association and a business incubator supporting calligraphy enterprises.
Additional offerings feature artist residency programs, expert-led workshops, and standardized curriculum development, complemented by international educational partnerships aimed at heritage conservation and expanding global appreciation for this time-honored art form.
The center’s establishment in Madinah carries particular significance, given the city’s historical role as the cradle of Arabic calligraphy and its association with transcribing the Qur’an and preserving Islamic knowledge.
