Social Development Bank Highlights Strategic Partnerships and Global Initiatives at DeveGo 2025

The forum held in Riyadh witnessed the signing of 51 agreements aimed at strengthening the entrepreneurial ecosystem

RIYADH, Saudi Arabia–(BUSINESS WIRE)–The Social Development Bank (SDB) hosted the second edition of the Entrepreneurship and Modern Business Practices Forum, “DeveGo 2025”, from 21 to 23 December in Riyadh. Held under the patronage of His Excellency Eng. Ahmed bin Sulaiman Al Rajhi, Minister of Human Resources and Social Development and Chairman of SDB’s Board of Directors, the forum brings together government leaders, global experts, investors, and entrepreneurs to shape the future of entrepreneurship and modern business practices in the Kingdom of Saudi Arabia.

Opening the forum, Minister Al Rajhi delivered a keynote speech on the growing vibrancy of Saudi Arabia’s entrepreneurial movement. He highlighted the Kingdom’s transformation in entrepreneurship and freelance ecosystems. The Minister added that Social Development Bank injects more than SAR 8 billion annually to support enterprises and entrepreneurs, contributing to an increase in employment at bank-funded businesses from 12,000 in 2021 to more than 140,000 in 2025.

A central focus of DeveGo 2025 is building entrepreneurial capacity through the Empretec program, led by SDB and United Nations Conference on Trade and Development (UNCTAD). During the forum, SDB announced the launch of the Saudi Empretec Fellowship, attended by H.E. Rebeca Grynspan, Secretary-General of UNCTAD. This initiative marks a significant milestone in Saudi Arabia’s collaboration with international institutions to support high-potential entrepreneurs through intensive training, mentorship, and access to global networks. The fellowship aims to help Saudi entrepreneurs scale their ventures and compete internationally.

Setting the tone for the forum in his opening speech, Eng. Sultan bin Abdulaziz AlHamidi, CEO of the Social Development Bank, said: “DeveGo has become a national platform that brings together ideas, expertise, and opportunity. Through strategic partnerships, innovative financing solutions, and global programs such as Empretec in partnership with UNCTAD, we are empowering entrepreneurs to grow, scale, and compete locally and internationally. Our focus is on supporting entrepreneurs at every stage of their journey while contributing to a diversified and knowledge-based Saudi economy.”

The forum also witnessed the signing of over 50 agreements that reinforce SDB’s role in building an integrated entrepreneurial ecosystem. The agreements include innovative financing portfolios, corporate social responsibility initiatives, and local and international partnerships that expand access to financial and non-financial solutions.

*Source: AETOSWire

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Nizar Hariz

nhariz@webershandwick.com