Saudi SMEs see $270m boost from government-backed fund

The Forsa platform was launched in 2017. Shutterstock.
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Updated 05 December 2023
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Saudi SMEs see $270m boost from government-backed fund

More than SR1 billion ($270 million) has been allocated to small and medium enterprises in Saudi Arabia since 2017 by a government-backed platform known as Forsa.

The Human Resources Development Fund announced in a statement that the platform, part of the “Nine Tenths” program, has witnessed significant growth, with approximately SR500 million being allocated in the year 2023 alone.

Forsa serves as a link between suppliers and buyers, enabling registered entities to electronically review and submit price quotations for government and private sector procurement, according to the statement.

Additionally, it empowers them to issue requests for quotations among themselves. The platform encompasses more than 27 sectors and benefits over 500 major entities.

The platform’s primary goal is to foster and empower businesses by enhancing governance and transparency in submitted bids, supporting local content, and facilitating electronic connections to streamline procurement processes. 

It aims to provide ease of control and access to reports and information through an integrated dashboard.

The Nine Tenths program offers a range of innovative benefits, including the Forsa, Bahr, Zaad, and Tajer platforms. 

These services aim to empower businesses and transform the work culture of individuals and communities by encouraging and supporting entrepreneurship and SMEs. 

The program seeks to enable individuals and entities to create new opportunities and jobs through innovative means.

Initiated in August 2016, the Nine Tenths program is one of the initiatives launched by the HRDF in alignment with the Kingdom’s Vision 2030. 

It strives to create and enhance a conducive working environment for small and medium-sized enterprises, turning them into job-producing institutions and fostering an entrepreneurial ecosystem.

The HRDF aims to support the rehabilitation and employment of the national workforce in the private and non-profit sectors by providing subsidies for workforce qualification, training, and employment.

It also participates in the costs of qualifying and training the national workforce for jobs in the private and non-profit sectors, as well as supporting the financing of field programs, plans, and studies aimed at recruiting Saudis and replacing expatriate workers.


Cruise Saudi strengthens global ties as Celestyal makes maiden calls to Jeddah

Updated 10 December 2025
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Cruise Saudi strengthens global ties as Celestyal makes maiden calls to Jeddah

JEDDAH: Saudi Arabia is accelerating its push to become a global cruise hub, with Cruise Saudi — a wholly owned Public Investment Fund subsidiary — expanding international partnerships to draw more travelers to the Kingdom’s Red Sea and Arabian Gulf ports.

The latest milestone came as award-winning Greek cruise line Celestyal completed its first-ever calls to Jeddah, signaling rising global interest in Saudi Arabia’s cultural and natural attractions.

The visits form part of Cruise Saudi’s strategy to build a year-round cruise ecosystem that supports tourism growth, boosts local supply chains, and contributes to the Kingdom’s broader economic diversification.

Three UNESCO World Heritage Sites — AlUla, Jeddah Historic District, and Al-Ahsa Oasis — are now accessible by sea, with curated shore excursions designed to deepen visitor engagement.

Cruise Saudi aims to welcome 1.3 million cruise passengers annually by 2035, creating 50,000 direct and indirect jobs and positioning the Kingdom as a premier international cruise destination.

The 1,360-passenger Celestyal Discovery arrived in Jeddah on Dec. 5, following the 1,260-passenger Celestyal Journey, which made its maiden call on Nov. 29. The Journey concluded a seven-night Athens–Jeddah itinerary with stops in Turkiye and Egypt, marked by a traditional plaque exchange ceremony attended by Cruise Saudi executives, port officials and Celestyal representatives.

Passengers were welcomed with traditional Saudi hospitality and toured Jeddah’s historic Al-Balad district, bustling souks, and cultural sites. Some Muslim travelers also visited Makkah to perform Umrah.

“We are honored to celebrate our maiden call in Jeddah alongside our partners at Cruise Saudi, marking the beginning of a long and effective relationship,” said Lee Haslett, chief commercial officer at Celestyal.

He added that Jeddah’s role as “the cultural heart of Saudi Arabia” presents strong potential for cruise tourism.

Barbara Buczek, chief destination experiences officer at Cruise Saudi, told Arab News: “This maiden Red Sea sailing highlights the strong appeal of the region and aligns with Cruise Saudi's commitment to developing seamless, high-quality cruise experiences in Saudi Arabia.”

She noted that Celestyal’s expanded itineraries reflect rising demand for distinctive Red Sea and Arabian Gulf voyages.

Since its launch in 2021, Cruise Saudi has activated five cruise ports, introduced Aroya Cruises, the Kingdom’s first homegrown cruise line, and established Aman at Sea, an ultra-luxury JV with Aman Group set to launch in 2027. The company manages the full value chain — from terminals and berths to curated excursions — and has already welcomed more than 600,000 passengers of over 120 nationalities.

Celestyal, which carries more than 140,000 passengers annually across two refurbished vessels, is aligning with the Kingdom’s Vision 2030 ambition to transform coastal tourism. After departing Jeddah, both Celestyal ships continued to Abu Dhabi to begin the company’s second Arabian Gulf season.

Aroya Cruises has also launched a new seasonal program featuring stops in Mykonos, Athens, Crete, and coastal cities in Turkiye, expanding on a successful inaugural season that attracted over 95,000 guests.

The growing activity underscores Saudi Arabia’s emergence as a world-class cruise destination, supported by modern infrastructure, expanding routes, and experiences that highlight the Kingdom’s culture, heritage and hospitality.