Change in Saudi Arabia is ‘profound’, Princess Reema tells Arab Women Forum

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Updated 17 May 2022
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Change in Saudi Arabia is ‘profound’, Princess Reema tells Arab Women Forum

  • Arab Women Forum and Top CEO Conference and Awards bring together top business leaders
  • The two-day event this week makes a return after a two-year hiatus during the pandemic

DUBAI: Saudi Arabia has millions of talented, motivated women, eager to contribute to the growth of the Kingdom, Princess Reema bint Bandar, Saudi Arabia’s ambassador to the US said in a keynote speech delivered to the Top CEO conference at the Palazzo Versace Hotel in Dubai on Tuesday.

Speaking via video at the start of the Top CEO Conference and Awards — the first to go ahead in-person after a two-year hiatus due to the pandemic — she said Saudi Arabia and the Arab world had recently experienced “profound and historic change for women in Saudi Arabia in the region.”

“We know nations cannot keep half their talent on the side lines, and still expect to grow, transform,” she explained, adding: “We have millions of talented, motivated women eager to contribute, and they are the key to social, cultural and economic progress in the Kingdom and, frankly, in the Arab world and around the world.

“As a business leader in the Kingdom, when the doors to women were just starting to open, I realized that opening the doors wasn’t enough. Women had to be prepared to take advantage of those open doors, and we have to equip them with the skills.”

Thanking the event’s CEO, Julien Hawari, for inviting her to speak, Princess Reema spoke of Saudi Arabia’s strategies in combating any uncertainties that might stand in the way of progress, and the country’s plan for economic diversification, environment sustainability, and gender diversity.

And she described the TOP CEO conference as an event that brings what she called a “remarkable group of business leaders” together. 

She praised the Kingdom for being proactive in confronting the coronavirus pandemic head on by undertaking necessary public health and economic security measures.

As a result, she said, the Kingdom was now well-positioned to emerge as a global leader, adding that she saw the Arab population in the country as young, educated, tech-savvy and, as a result of that, its markets are growing — driven by technology and innovation. 

“Under vision 2030, Crown Prince Mohammed bin Salman’s bold plan to restructure Saudi Arabia’s economy, we’re diversifying from energy dependence. We’re embracing technology and sustainable development and we’re creating an inclusive society for all and opening opportunities for young entrepreneurs,” she said.

According to Princess Reema, the country started its metamorphosis more than seven years ago, and it was still transforming itself.

“It’ll be less reset and more restart,” she said, “In part, because we’ve recently experienced profound and historic change for women in Saudi Arabia in the region,” she said.

She went on to recall how, when she was the CEO of one of the Kingdom’s retailers, her workplace was the first in the country to provide day care — something unheard of at the time.

“In Saudi Arabia, I’ve not only seen the change, I’ve lived it. I know how important it is to open the workplace to women, and not just to encourage and promote equality and equity, but to plan for it … Because we understood that even if the doors were open, we had to not just prepare the women, we had to welcome them,” she said. 

Beyond that, Princess Reema has been active with working with women to prepare them to join the workforce by offering training and financial literacy courses.

She told the audience Saudi Arabia had more women with advanced degrees than men, and that women had fearlessly entered the workforce in under a generation — with the world taking notice. Apple recently opened an all-women coding school in Riyadh, and opportunities are multiplying.

The princess explained that while the country had made great progress, there was still much to do. She said Saudi Arabia needed to continue to prioritize renewable, sustainable, tech-driven and green initiatives, so that the Kingdom could create a more resilient public sector while fostering a robust private one. 

“We ‘reset’ by championing innovation, by encouraging inclusion by creating an environment where young people have brighter futures than their parents. And that’s the future. The future we must build together, harnessing creativity and ingenuity of all of our citizens, and rewarding business leadership that values diverse and inclusive workplaces and supports the creation of innovative and creative ecosystems where everyone can participate and contribute,” she concluded.

  • Arab News is a media partner of the Arab Women Forum and Top CEO Conference and Awards

UNCTAD, Social Development Bank launch fellowship to power Saudi entrepreneurs

Updated 23 December 2025
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UNCTAD, Social Development Bank launch fellowship to power Saudi entrepreneurs

RIYADH: The Social Development Bank has signed a memorandum of understanding with UN Trade and Development to launch the “Empretec Saudi Fellowship,” a new initiative aimed at equipping high-potential Saudi entrepreneurs with advanced training and tools to scale their ventures.

The agreement was signed on the sidelines of the second edition of the DeveGo 2025 forum, held on Dec. 21–22 at the King Abdulaziz International Conference Center in Riyadh. The event brought together entrepreneurs, policymakers, and representatives from regional and international organizations, alongside public and private sector leaders.

Featuring more than 150 exhibitors, 85 speakers, and 45 workshops, the forum focused on sharing local and global best practices and strengthening the Kingdom’s entrepreneurial ecosystem.

The Empretec Saudi Fellowship is part of UNCTAD’s flagship capacity-building program to promote entrepreneurship and support micro, small, and medium-sized enterprises and startups. Active in more than 40 countries, the program seeks to develop personal entrepreneurial behaviors through intensive training, access to international experts, and technical tools that help transform promising ideas into scalable, high-impact businesses.

Rebeca Grynspan, UNCTAD secretary-general, said Saudi Arabia offers fertile ground for entrepreneurial growth.

“Saudi Arabia has a wonderful platform to bring everybody up, and the entrepreneurs here are so eager. They have ideas, creativity, and energy,” she told Arab News. “If they come through our program with the Social Development Bank, which does a wonderful job, they will be more successful — because that’s what we want.”

In his opening remarks, Saudi Minister of Human Resources and Social Development Ahmed Al-Rajhi, who also chairs the SDB board, highlighted the rapid evolution of the Kingdom’s startup landscape.

“The Kingdom is witnessing a qualitative transformation in the entrepreneurship and freelance ecosystem, enabling young men and women to enter new promising sectors such as artificial intelligence, renewable energy, advanced technologies, and venture capital,” he said. “This provides broader opportunities to contribute to innovation, expansion, and global competitiveness.”

During a tour of the exhibition alongside Al-Rajhi, Grynspan met a wide range of small and medium-sized businesses and handicraft makers, praising the depth of local talent. She noted that participants spanned the full spectrum of enterprises — from early-stage ventures to more established and sophisticated companies — reflecting a rich diversity of experience.

Al-Rajhi said the Social Development Bank invests more than SR8 billion annually to support enterprises and entrepreneurs, helping raise employment in bank-financed businesses from about 12,000 in 2021 to more than 140,000 in 2025.

Beyond financing, the bank runs several non-financial programs, including the Jada 30 business communities, which have incubated more than 4,300 enterprises across 13 cities, and the Dulani Business Center, which has delivered over 67,000 consultations benefiting more than 150,000 male and female entrepreneurs.

Speaking on the broader economic outlook, Grynspan added: “This is a wonderful place to come. Now is an economy that is thriving, is a population that is hopeful. And you have these young, talented people that are only waiting for an opportunity to make it happen for everybody.”

During the forum, the bank also signed multiple cooperation agreements spanning key sectors such as finance, education, energy, healthcare, heritage, the nonprofit sector, and freelance work. The partnerships align with SDB’s strategy to build an integrated system of financial and non-financial empowerment tailored to the needs of entrepreneurs, startups, and micro-enterprises.