Saudi Arabia Concludes Participation in G20 YEA 2024 Summit in Brazil

Prince Fahd bin Mansour bin Nasser bin Abdulaziz led the Saudi delegation that participated in the G20 Young Entrepreneurs' Alliance 2024 Summit (G20 YEA 2024 Summit), held from June 12 to 16 in Goiânia and Florianópolis, Brazil.

 The Kingdom of Saudi Arabia's pavilion included several entities from the public and private sectors, showcasing efforts and services provided to entrepreneurs and investments in startups and small and medium-sized enterprises (SMEs).

 In his speech at the summit's opening, Prince Fahd commended the Kingdom's notable achievements in establishing a conducive regulatory environment for young entrepreneurs, aligning with Saudi Vision 2023. He highlighted the Kingdom's 108% growth in the number of SMEs since 2016 and its top ranking in venture capital funding in the Middle East and North Africa region. He also noted the Kingdom's 50% market share in the region, with an annual growth rate of 33%.

 Additionally, he stated that one of the main goals of Saudi Vision 2023 is to support youth, especially as they constitute 70% of society, and emphasized the role of Saudi women in achieving sustainable development goals (SDGs).

 The Saudi delegation expressed pride in showcasing several pioneering local projects that reflect Saudi identity, emphasizing the importance of enhancing cooperation with other countries in the field of entrepreneurship, exchanging ideas, and creating new investment opportunities. The delegation also participated in several public sessions and bilateral meetings focused on empowering entrepreneurs, exploring cooperation opportunities, and enhancing fruitful partnerships.