Over 87,000 Business Licenses Issued to Saudi Arabia this Year – Report

Saudi Arabia’s Ministry of Commerce and Investment issued over 87,000 business licenses to women in the last year as the Kingdom looks to increase female integration into the Saudi economy.

The Ministry said it issued 87,575 commercial registrations for women “for businesses in various fields, including trade, manufacturing, communications, information technology, real estate, cleaning, tourism, restaurants and exhibitions.”

Saudi Arabia’s underemployed but well-educated young women are integral to the success of the Vision 2030 economic and social reform plan championed by Crown Prince Mohammed bin Salman. The plan calls to increase Saudi women’s participation in the workforce from 22% to 30%, and also to increase SME contribution to GDP from 20% to 35%.

The recent landmark decision to allow women to drive was a leap forward for Saudi women, and it should have an especially powerful effect on women entrepreneurs.

Saudi Arabia’s Ministry of Commerce and Investment said it has set up centers in Riyadh, Jeddah, Makkah, Dammam and Medina to provide business assistance to women.