Saudi Arabia has ranked 12th in the index of Venture Capital Availability, which is considered one of the most prominent sub-factors in World Competitiveness Yearbook 2020 issued by the World Competitiveness Center.
The classification comes as a reflection of the General Authority for Small and Medium Enterprises (Monshaat) desire to create a competitive environment that encourages entry of new enterprises to the market.
This will enable small and medium enterprises to grow and expand.
Also, it aims to help these enterprises in finding appropriate financing solutions and investment opportunities to raise their contribution in the gross domestic product to 35% by the year 2030.
The World Competitiveness Yearbook analyzes how countries create, maintain and develop a supportive and competitive environment.
It compares 63 countries based on four pillars of performance: Economic performance, government efficiency, business efficiency, and infrastructure.
