ENA Global 2018-01-10 06:50:39 <p><strong>New Delhi, Jan 10 (KNN)</strong> Eyeing at encouraging entrepreneurs to launch new businesses in the Small and Medium Enterprises (SME) sector, the Saudi Arabian General Investment Authority (SAGIA) announced new licensing service recently.</p> <p>Under the new policy, entrepreneurs and innovators from around the globe can apply for a license and also take benefit from various business incubators, research centres and small and medium enterprises (SME) services to start their own unit in the kingdom.</p> <p>The authority will be granting a license to entrepreneurs wanting to establish projects in Saudi Arabia that are approved by Saudi Universities or business incubators inside the Kingdom. </p> <p>All entrepreneurs have to do is submit their articles of association of the company and an acceptance letter from a Saudi university or one of the approved business incubators, SAGIA said in a release.</p> <p>SAGIA is to collaborate with Small &amp; Medium Enterprises Authority (SMEA) to formulate policies and provide licenses in order to increase private sectors contribution in GDP.</p> <p>It is a step forward in supporting innovators locally, regionally and globally and reduce hurdles that are faced by new entrepreneurs, the release further said.</p> <p>Also, residents of the Kingdom will be in favorable position from this initiative.</p> <p>Established in 2000, SAGIA, a government agency handles internal and external investment matters in the Kingdom of Saudi Arabia.</p> <p>Several measures have been taken by this organisation to gear towards the economic liberalization and making the Kingdom an ideal destination for global investment.</p> <p>Apart from addressing financial obstacles, SAGIA also aims at overcoming social obstacles faced by women in workplace. <strong>(KNN/MG)</strong></p> 18818 http://knnindia.co.in/news/newsdetails/global/saudi-arabia-to-launch-new-licensing-services-to-attract-global-investments-in-sme-sector 2018-01-10 06:50:39 knnindia.co.in