Prince Fahd bin Mansour bin Nasser bin Abdulaziz headed the Saudi delegation to the G20 Young Entrepreneurs' Alliance Summit 2024 in Brazil.
He noted an interest from the Kingdom of Saudi Arabia in the startups, SMEs, and entrepreneurial initiatives.
Prince Fahd highlighted the Kingdom's achievements in developing a favorable legal framework for young entrepreneurs and emphasized the importance of partnerships and collaboration in entrepreneurship.
Riyadh, June 23, 2024. Prince Fahd bin Mansour bin Nasser bin Abdulaziz led the Saudi delegation that attended the G20 Young Entrepreneurs' Alliance 2024 Summit (G20 YEA 2024 Summit).The summit was hosted by Goiania and Florianópolis, Brazil, from June 12 to June 16, 2024 A pavilion highlighting many governmental and private sector institutions promoting entrepreneurial projects and services as well as investments in startups and small and medium-sized businesses (SMEs) was sponsored by the Kingdom of Saudi Arabia.
Prince Fahd's opening speech at the summit was a compliment for the tremendous achievements that the Kingdom has made in terms of developing a legal framework that is advantageous for young entrepreneurs. At the time, this was in line with Saudi Vision 2023.The Kingdom's small and medium-sized businesses (SMEs) have grown by 108% since 2016; right now, they rank highest in terms of venture capital funding in the Middle East and North Africa. He also mentioned the fifty percent market share of the Kingdom in the area, which is expanding at thirty-three percent yearly.
In addition to this, he mentioned that one of the key objectives of Saudi Vision 2023 is to inspire young people, particularly considering that they make up seventy percent of the population. He also emphasized the significance of Saudi women in the process of reaching the Sustainable Development Goals (SDGs).The Saudi delegation took great delight in presenting a great number of innovative local companies that best reflect the Saudi attitude in order to underline the need of forming alliances with other countries in the sphere of entrepreneurship, exchanging ideas, and creating new investment prospects. In order to promote the expansion of entrepreneurs, look at possible joint ventures, and improve mutually beneficial partnerships, the delegation also attended many public events and bilateral negotiations.
