“Al Jazeera” – Economy:
In the “Monshat Monitor” report for the third quarter of 2022 released yesterday, the public authority for small and medium enterprises “Monshat” said that the number of small and medium enterprises reached 978,445, an increase of 9.7 percent compared to the second quarter Is. This year, the Riyadh region comprises 36.1 percent of the total installations, while the Makkah al-Mukarram region comprises 20.6 percent, while the percentage in the Eastern Province is 12.5 percent.
The report indicated that small and medium enterprises are distributed across a wide range of economic activities, with the wholesale and retail trade sector accounting for nearly a third of the total (30.7 percent), followed by the construction and manufacturing sector (20.7 percent). ) It happens. ), and the support services management sector at a rate of 1 percent (11.6 percent).
The report emphasized the role of financial technology in the development of the Kingdom’s digital economy through active participation and investment by the private sector, indicating that by 2025 there is an estimated growth of 65 percent in financial technology companies compared to 2022.
The report showed the growth of the venture capital system in the Kingdom by 93 percent in investment funding during the third quarter of 2022 on an annualized basis, in addition to the growth of the emerging projects market, which recorded large deals during the quarter, in the technology sector. The rate of increase in investment funding that Saudi startups receive increased by 266 percent, reaching 3.1 billion riyals by the end of the third quarter of 2022.