Riyadh – Sharikat Mubasher: The Ministry of Communications and Information Technology (MCIT) announced a partnership with the National Technology Development Program (NTDP) to launch the Tamkeen Initiative, which aims to empower Saudi technical professionals in micro, small, and medium-sized enterprises (MSMEs).

This program aims to equip these professionals with essential skills and resources, contributing to the growth of the digital economy in line with Saudi Vision 2030, according to an announcement by the MCIT.

Furthermore, the Tamkeen Initiative aims to encourage technology companies to hire Saudi talent and support their businesses with various incentives.

In recent years, the Saudi government has launched several initiatives to boost the presence and participation of SMEs across various sectors. Programs such as the SME loan guarantee program, known as Kafalah, and the Saudi Venture Capital Co. are designed to address the challenge of accessing capital many SMEs face.

In Saudi Arabia, SMEs constitute about 92% of the industrial sector, representing 34% of investments, and employ 55% of the workforce.