While all eyes are on the potential impact of major listings in the Kingdom of Saudi Arabia, such as the much-anticipated Saudi Aramco IPO, long-term transformative change is likely to come from the small business sector, according to senior experts set to speak at The Euromoney Saudi Arabia Conference 2017.
Saudi Arabia will see the growth of a major new investment opportunity in 2017, as new regulations permit the listing of small capitalized Saudi firms, adding new impetus to both the Small and Medium-sized Enterprises (SME) sector and the stock market.
In February, Tadawul launched the NOMU-Parallel stock market, with seven firms debuting with an initial market capitalization of SR 1.9 billion. The businesses were from a range of sectors including retail and food services, and all seven hit the maximum daily growth limit on the first day of trading, indicating the strong appetite for SME investment in the Kingdom.
The market, which is open to qualified investors for direct investment, can be accessed by retail investors through specific investment funds, creating new options for diversification.
The private sector, and the SME sector in particular, has a key role in the “Saudi Vision 2030” strategy by diversifying the economy, creating jobs, and promoting growth. Alongside the new rules on listing SMEs, the Kingdom is also empowering the SME Authority and supporting wider economic innovation as part of a series of measures to support the growth of small businesses.
A special session at The Euromoney Saudi Arabia Conference, which is held in partnership with the Ministry of Finance in Saudi Arabia, will look at the measures being taken to drive entrepreneurship across the Kingdom. Speakers will include Nawaf Attaf Alsahhaf, Chief Executive Officer, Badir, and Craig Smith, Chief Executive Officer, Dhahran Valley Technology Development Company.
Victoria Behn, Euromoney Conference’s Head of Middle East and Africa, said: “The Kingdom of Saudi Arabia is promoting a wide range of measures to drive the transformation of the economy, and The Euromoney Saudi Arabia Conference will enable delegates to examine every angle of this far-reaching programme. The event brings together on-the-ground business and government leaders with international experts and global banking executives to provide insight into the impact of major initiatives like the transformation of the SME sector and the opportunities this is creating.”
Other sessions during the two-day event include panel discussions on Equity Capital Markets and Debt Capital Markets, special sessions on financial technology, and a CEO roundtable with executives from Gulf International Bank; SEDCO Capital and Jadwa Investment. Euromoney is also organising an exclusive ticketed executive briefing on Real Estate Investment Trusts on the day before the conference.
H.E. Mr. Mohammed Al-Jadaan, Minister of Finance, Kingdom of Saudi Arabia, will officially open the conference, deliver the keynote speech and inaugurate the event. Major speakers from the Kingdom include H.E. Dr Ahmed Abdulkarim Alkholifey, Governor, Saudi Arabian Monetary Agency; H.E. Mr Majed bin Abdullah Al-Hogail, Minister of Housing, Kingdom of Saudi Arabia; H.E. Mr. Mohamed El-Kuwaiz, Vice Chairman, Capital Market Authority; Khalid Abdullah Al Hussan, Chief Executive Officer, Tadawul; and Yousef Abdullah Al-Benyan, Vice Chairman and Chief Executive Officer, SABIC.
The 2017 Euromoney Saudi Arabia Conference takes place from 2-3 May in Riyadh. The Executive Briefing on Real Estate Investment Trusts will run on 1 May 2017.
For more information on the Euromoney Saudi Arabia Conference, visit www.euromoneyconference.com/saudi.html.