Aramco has announced the start of a new program called Taleed that aims to increase Saudi Arabia’s Small and Medium Enterprises’ (SMEs) contribution to economic growth and assist employment creation.
Through a portfolio of 20 initiatives, Taleed targets sustainable SME growth across a number of industries, offering a wide range of support, including capability building, strategy development, training, market access, consulting services, and business planning.
According to a statement from Aramco, it also seeks to provide funding and financial solutions to both new and current enterprises through five funds with a combined capital of more than SAR3 billion. These funds are being established in collaboration with partners – Aramco has signed 30 MoUs with leading public and private partners – to support SME development in the sustainability, digital, manufacturing, industrial, and social innovation domains.
Through a portfolio of 20 initiatives, Taleed targets sustainable SME growth across a number of industries
Aramco President and CEO Amin H. Nasser explained: “We have long been committed to supporting the expansion of Saudi Arabia’s SME ecosystem, which has a critical role to play in the Kingdom’s economic development. Through Taleed, we are working with the public sector, as well as private companies and institutions, to further develop the SME ecosystem and promote entrepreneurship. Our aim is to achieve high levels of excellence among SMEs, which in turn supports our own business and the national economy.”
Aramco has signed 30 MoUs with leading public and private partners
Taleed will provide SMEs with targeted initiatives, complementing Aramco’s other major programs designed to enhance the company’s resilient supply chain and the domestic business environment. These include its flagship localization program ‘iktva’, as well as its industrial investments program ‘Namaat’, advanced product development center LAB7, and entrepreneurship center Wa’ed. These interconnected programs aim to generate a supportive environment in which businesses of all sizes can prosper.
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