Micro, small and medium enterprises (MSMEs) across Saudi Arabia will continue to grow during the current financial year 2022 because of strong consumer demand. This fact is confirmed by the consistent surge in MSME lending that the banks and financial institutions have witnessed lately. In March 2022, investment deals worth US$13.8 billion were signed at the Global Entrepreneurship Congress organized in Riyadh. International firms also announced plans to expand operations into Saudi Arabia. Meanwhile, loans given to MSMEs by local commercial banks increased 12.9% to SR186.2 billion in the third quarter of 2021 from SR165 billion in the corresponding period of the previous year.
