The Saudi Capital Market Authority (CMA) Chairman Mohammed Al-Quwaiz recently highlighted the impressive progress of the Saudi capital market, describing it as the seventh-largest financial market in the world. This achievement is a reflection of the robust performance of the national economy. Al-Quwaiz made these remarks during a dialogue session titled “Financial markets as a catalyst for growth in Saudi Arabia” at the seventh edition of the CEO Forum in Riyadh. He mentioned that over 50 percent of the approximately 70 companies recently listed on the Saudi financial market are small and medium-sized enterprises (SMEs), demonstrating the market’s commitment to supporting smaller businesses.
Al-Quwaiz emphasized that one of the key pillars of the CMA’s strategy is to boost liquidity and create new opportunities for smaller companies. Additionally, Monsha’at, the General Authority for Small and Medium Enterprises, is focused on developing a dynamic debt market and advancing the asset management industry to enable it to compete globally and attract more investments in the national economy. He stressed the importance of the stock market and financial technology sectors in Saudi Arabia’s ambitions to become a leading financial hub in the region, emphasizing the need for continued support for these areas.
The CMA is currently working on expanding financing channels, including facilitating subscription fund management to ensure efficient and swift handling of public offerings. While the market has achieved notable milestones, Al-Quwaiz acknowledged that there are ongoing challenges to address. He mentioned that stimulating liquidity, increasing available offerings, and expanding the investor base are key areas that the CMA is focusing on to further develop the Saudi capital market and attract more investments.
The seventh CEO Forum in Riyadh attracted prominent international and local speakers, experts, and entrepreneurs. Under the patronage of Minister of Commerce and Chairman of the Board of Monsha’at Majed Al-Qasabi, the forum aimed to achieve strategic goals by enabling rapidly growing enterprises to stay informed about the latest innovations and developments that contribute to the growth and development of SMEs in the Kingdom. The forum’s theme of “Opportunities to enhance business growth” highlighted the importance of providing support and resources to small and medium-sized enterprises to help them thrive in the competitive market.
Overall, the Saudi capital market has made significant progress in recent years, positioning itself as a key player in the global financial market. With a focus on supporting SMEs, boosting liquidity, and expanding financing channels, the market is poised to attract more investments and continue its growth trajectory. The collaboration between the CMA and Monsha’at demonstrates a commitment to developing a dynamic and competitive financial market that contributes to the overall economic development of Saudi Arabia. The CEO Forum serves as a platform for knowledge-sharing and networking, enabling entrepreneurs and experts to exchange ideas and insights to further enhance business growth in the Kingdom.
