Saudi Arabia aims to help SMEs expand their export potential

Saudi Arabia aims to help SMEs expand their export potential

The lender was established as part of the government's Vision 2030 goal to raise the share of exports in the non-oil economy from 16 percent at present to 50 percent by the end of the decade."We at Saudi EXIM are mandated to serve all Saudi-based exporters of non-oil content, be it goods, services or intermediate value-added products, irrespective of their enterprise size. We do so by ensuring that our role complements that of commercial lenders instead of eroding it or competing with it,“ Dr. Naif Al-Shammari, acting CEO of Saudi EXIM, said in an interview with Arab News."We pay special attention to small and medium enterprises given the limited access they have to commercial funds. This extends even to those that do not have an export track record, provided that they have valid on-hand orders from the export market,“ Al-Shammari said.To boost the performance of exporters in the non-oil sector, the Saudi EXIM Bank offers 17 different credit solution products, which were developed in accordance with best international practices and based on the needs of Saudi-based exporters and their foreign clients, Al-Shammari said.Meshari Alrajih, an assistant professor of marketing at the King Saud University, said small and medium-sized exporters can