An agreement between the Ministry of Human Resources and Social Development and Monshaat for accrediting social entrepreneurship establishments

The Ministry of Human Resources and Social Development has entered into an agreement with the General Authority for Small and Medium Enterprises "Monsha'at" and the International Company of Arwaqah. The agreement aims to create an agreed accreditation that contributes to the recognition of social entrepreneurship and facilities with a social impact by submitting a certificate stating that the facility fulfills the standards and requirements it prepares within the social enterprises. .

The Ministry was represented in the signing of the agreement by His Excellency Mr. Suleiman bin Abdulaziz Al-Zabn in his capacity as the Undersecretary of the Ministry for Development, while the General Authority for Small and Medium Enterprises "Monshaat" was represented by His Excellency Eng. Saleh bin Ibrahim Al-Rasheed as the Authority’s Governor, and the Arwaqah Company was represented by Engineer Adeeb bin Fahd Bakhsh as the Acting Executive Director.

The three parties agreed to form an accreditation committee headed by the General Authority for Small and Medium Enterprises "Monsha'at" and a representative from the ministry and the company, to work on developing standards for accreditation of social enterprises, to ensure that social enterprises meet the requirements for accreditation and to address them, and to ensure that companies supporting social enterprises meet the requirements and process accreditation requests And the approval of the renewal of the certificate for social enterprises, in addition to granting accreditation to establishments according to the mechanism for obtaining the accreditation agreed upon by all parties.

The Ministry of Human Resources and Social Development and the General Authority for Small and Medium Enterprises called on “Monsha’at” for social enterprises to visit the link: https://www.buysocialsa.com/ to submit the application and view the criteria and requirements for issuing an accreditation certificate, especially since small and medium enterprises are of utmost importance in supporting the economy National, advancing development, creating a positive impact on the economic and social levels, increasing exports, creating new job opportunities for Saudi youth, opening new labor markets, diversifying sources of income, and expanding the production base in line with achieving the Kingdom's 2030 vision.

It is worth noting that the accreditation that will be granted to the establishments that achieve the standards and will contribute substantially to overcoming the challenges of the difficulty of legal distinction between enterprises aimed at maximizing profits and between enterprises of community leadership aimed at maximizing the social impact, as their legal entity is documented once they obtain the accreditation, which will make it easier for them to gain the confidence of donor institutions and the final consumer This accreditation will contribute to opening new horizons for social enterprises to obtain incentives and facilities provided by government agencies, especially the Ministry of Human Resources and Social Development and the General Authority for Small and Medium Enterprises "Monshaat".