Riyadh - Sharikat Mubasher: Saudi Arabia's Human Resources Development Fund (HRDF) announced that Forsa, the government-backed platform, allocated around SAR 500 million for small and medium-sized enterprises (SMEs) in 2023.
In a statement, the HRDF clarified that the platform, part of the “Nine Tenths” program, has allocated over SAR 1 billion for more than 22,000 SMEs in the Kingdom since 2017.
The main objective of Forsa is to foster and empower businesses by boosting governance and transparency in submitted bids, supporting local content, and facilitating electronic connections to streamline procurement processes.
It also aims to connect suppliers with buyers, enabling registered entities to electronically review and submit price quotations for government and private sector procurement.
Forsa comprises more than 27 sectors and benefits over 500 key entities, providing seamless access to reports and information via an integrated dashboard.
The “Nine Tenths” program was launched in 2016 by HRDF to empower businesses and transform the work culture of individuals and communities by encouraging and supporting entrepreneurship and SMEs.
It offers a wide range of innovative benefits, including the Forsa, Bahr, Zaad, and Tajer platforms.
