Ministry of Investment: Number of Saudi women in the private sector increased by 130% over 4 years.. 38% of SMEs managed, owned by women

Sarah Al-Sayed, Undersecretary for International Relations at the Ministry of Investment, confirmed the tremendous growth in the number of Saudi women working in the private sector, as it recorded a 130% increase over the past four years, describing this number as “huge and unprecedented”.

She explained that the number of companies managed by women in the Kingdom increased by 60% over the past two years, noting that 38% of small and medium enterprises in Saudi Arabia are owned and managed by women.

Al-Sayed’s statements came during her participation in a ceremony held by the European Commission and the European Chamber of Commerce in Riyadh, sponsored by DHL, which focused on the role of women in leadership positions. Al-Sayed indicated that the percentage of women holding seats in the Shura Council reached 20%, while women occupy 50% of the membership of the Human Rights Council, in addition to the noticeable increase in the number of female diplomats in the Ministry of Foreign Affairs.

Al-Sayed spoke about the expansion of women’s participation in new fields such as the military, security services, criminal investigations, public prosecution, and aviation. She also touched on sporting achievements, as the number of women participating in the Olympic Games has increased by 130% since 2015, and women have won 80 silver and bronze medals in the past five years, with the number of female heads of sports federations increasing from zero to seven in 2023.

Al-Sayed stressed that these achievements represent just the beginning, stressing the importance of continued cooperation between the sexes to achieve further progress. She added: “Platforms such as this help to promote dialogue on women’s empowerment, which is essential for the future of the Kingdom,” expressing her thanks to the European Commission, the European Chamber of Commerce, and DHL for organizing the event.

Al-Sayed concluded by saying that Vision 2030 has made a promise and commitment to enhance women’s participation in all fields, and that the current figures reflect the success of these efforts and the progress achieved towards women’s economic and social empowerment in the Kingdom. For his part, Christophe Varno, the European Union Ambassador to Saudi Arabia, Bahrain and Oman, said that the role of women in leadership in both Europe and Saudi Arabia is important, considering it a matter of justice and efficiency. He indicated that women contribute to innovation and productivity and enhance diversity within organizations, which benefits everyone. Varno pointed out that the European Union is working hard to enhance the role of women in decision-making, citing that four out of six Executive Vice President positions in the European Commission are held by women, under the leadership of Dr. Ursula von der Leyen. He added that the European Union relies on a strong legal framework to ensure gender equality in professional opportunities. Varno also praised the achievements made by Saudi Arabia in empowering women within Vision 2030, noting that the rate of women’s participation in the workforce exceeded the set goals and reached 37%. He explained that Saudi women are playing an increasing role in various fields, including business, government, and education, reflecting the Kingdom’s commitment to empowering women. Varno concluded by emphasizing the importance of cooperation between men and women to achieve more diverse and inclusive societies and economies, stressing that promoting gender equality leads to better results and more effective management.

Christionas Gedvillas, CEO of the European Chamber of Commerce in Saudi Arabia, confirmed that the Chamber seeks to push initiatives that enhance sustainability, diversity and innovation in line with Vision 2030. He explained that the European Chamber, which was established with the support of the European Union to enhance economic partnership with the Gulf countries, has become a unified platform representing the interests of European businesses in the Kingdom, and contributes to enhancing innovation and prosperity.

Gedvillas pointed out that the Chamber plays a key role in strengthening ties between Europe and Saudi Arabia, by organizing events, providing insights into the local market, and facilitating trade links in various sectors such as energy, mobility and healthcare. He also stressed that the Saudi government is working at an accelerated pace to keep pace with unprecedented developments, praising the pivotal role played by Saudi women in achieving the goals of Vision 2030, as their participation in the labor market has exceeded the set targets.

He concluded by stressing that the determination and ambition of Saudi women reflects the Kingdom’s success in empowering women and achieving rapid progress in various sectors.