New channel to help young Saudi nationals aspiring to launch their own business.
Saudi Arabia’s Minister of Culture and Information Dr. Abdulaziz Khoja has announced the launch of a TV channel that is aimed at enlightening young aspiring Saudi entrepreneurs on how to launch their business .
Initiatives have also been announced by the Minister of Labour Adel Fakieh and Minister of Commerce and Industry Tawfiq Al-Rabiah to support young nationals who want to start their own business in the Kingdom.
The announcement was made at the Fifth Young Businessmen Exhibition that was hosted in Jeddah last week. Presently, there are 800,000 small enterprises registered in Saudi Arabia, which constitute 90 percent of the business run in the Kingdom.
Unfortunately, most of these enterprises are run by foreigners who run it under the names of locals. The initiatives announced last week are an attempt by the Saudi government to encourage Saudi nationals to run their own businesses instead of taking a cut from foreign establishments .