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MIDDLE EAST
ARAMCO LAUNCHES TALEED PROGRAMME TO ACCELERATE SME GROWTH IN SAUDI ARABIA
Aramco has announced the launch of a new programme , ‘ Taleed ’, which aims to accelerate the growth of Small and Medium Enterprises ( SMEs ) in Saudi Arabia – helping boost their contribution to economic development and support job creation . The programme targets sustainable SME growth across multiple sectors through a portfolio of 20 initiatives , providing a wide range of support from capability building and strategy development to training , market access , advisory services and business planning . has a critical role to play in Saudi Arabia ’ 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 .”
Ahmad A . Al-Sa ’ adi , Aramco Senior Vice President of Technical Services , said : “ Our Taleed programme is a
It also aims to deliver funding and financial solutions to existing and new businesses through five funds , with a combined capital exceeding SAR 3 billion ( US $ 800 million ). The funds are being established in collaboration with partners to support SME development in the sustainability , digital , manufacturing , industrial and social innovation domains . Aramco is partnering with a wide range of entities to deliver Taleed initiatives and the company has signed 30 Memoranda of Understanding ( MoUs ) with leading public and private partners to enable the development of the SME ecosystem .
Amin H . Nasser , Aramco President and CEO , said : “ Aramco has long been committed to supporting the expansion of the Kingdom ’ s SME ecosystem , which catalyst for change that aims to elevate the contribution of both existing and new SMEs across multiple sectors , in turn promoting job creation and further enhancing the commercial operating environment .”
Taleed will provide SMEs with targeted initiatives , complementing Aramco ’ s other major programmes designed to enhance the company ’ s resilient supply chain and the domestic business landscape . These include the company ’ s flagship localisation programme , ‘ iktva ’, as well as its industrial investments programme , ‘ Namaat ’, advanced product development centre LAB7 and entrepreneurship centre Wa ’ ed . These interlinked programmes aim to create a supportive environment in which businesses of all sizes can flourish . �
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