Social Development Bank highlights strategic partnerships and global initiatives at DeveGo 2025

Government

Social Development Bank highlights strategic partnerships and global initiatives at DeveGo 2025

The Social Development Bank (SDB) has highlighted its expanding strategic partnerships and global initiatives during the second edition of the Entrepreneurship and Modern Business Practices Forum, DeveGo 2025, held in Riyadh from 21 to 23 December.

Organised 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 brought together government officials, global experts, investors and entrepreneurs to discuss the future of entrepreneurship and modern business practices in Saudi Arabia.

In his opening keynote address, Minister Al Rajhi underscored the rapid growth of the Kingdom’s entrepreneurial and freelance ecosystems, highlighting their role in supporting economic diversification. He noted that the Social Development Bank injects more than SAR 8 billion annually to support enterprises and entrepreneurs, contributing to a significant rise in employment at SDB-funded businesses, from 12,000 jobs in 2021 to more than 140,000 in 2025.

A key focus of DeveGo 2025 was strengthening entrepreneurial capacity through the Empretec programme, led by SDB in collaboration with the 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. The fellowship aims to support high-potential Saudi entrepreneurs through intensive training, mentorship and access to global networks, enabling them to scale their ventures and compete internationally.

Eng. Sultan bin Abdulaziz AlHamidi, CEO of the Social Development Bank, said DeveGo has evolved into a national platform that connects ideas, expertise and opportunities. He highlighted SDB’s commitment to empowering entrepreneurs at every stage of their journey through strategic partnerships, innovative financing solutions and global programmes, while supporting the development of a diversified, knowledge-based economy.

The forum also witnessed the signing of 51 agreements aimed at strengthening the entrepreneurial ecosystem in the Kingdom. These agreements cover innovative financing portfolios, corporate social responsibility initiatives, and local and international partnerships designed to expand access to financial and non-financial support for entrepreneurs and enterprises.