Saudi Arabia tries hard to improve and widen its investment fields through various programs and projects. Social investment in Saudi Arabia is just a new concept of business that embodies a real attractive opportunity to be discovered.
What is social investment in Saudi Arabia?
It’s a strategic investment inserted in the 2030 vision, aiming to accomplish a positive social impact with financial sustainability.
This initiative aims to address societal challenges, such as unemployment and education. In addition to health care, through directing private capital toward projects that make a tangible impact on the community.
In other words, it’s an investment that focuses on enhancing the life quality of society and supporting vulnerable social groups. As well as encouraging sustainable development, not only financial profits.
Also read about: The Investment in Oil Refineries in Saudi Arabia.
Objectives of social investment in Saudi Arabia
With such a valuable strategy, there must be clear objectives, this is what it really aims to achieve of noble goals, such as:
- Supporting underprivileged groups through economic, educational and social empowerment programs.
- Promoting environmental and health sustainability through eco friendly projects and awareness initiatives.
- Developing civil society by supporting charitable organizations and non-profit institutions.
- Encouraging community innovation and initiatives that address specific social challenges.
The Supportive Authorities of this Strategy
Behind the scenes, there are multiple authorities supporting this initiatives and strategies, for example:
Ministry of Human Resources and Social Development
The Ministry of Human Resources and Social Development works on bolstering this strategy, through defining the public and private sectors to achieve sustainable development goals.
Human Resources Development Fund
This fund finances social investment projects in Saudi Arabia by supporting entrepreneurs and social initiatives through grants and low-interest loans.
It also provides training and development programs and facilitates employment opportunities for beneficiaries.
The Saudi Council for Impact Investors
The Saudi Council for Impact Investors comprises a platform for communication and partnerships to exchange experiences and practices. In addition, it develops the measurement and evaluation framework by establishing indicators to assess the impact of social investments on the community.
The most prioritized task is encouraging the social investment culture, through raising awareness of the importance of the connection between financial and social objectives.
Examples of social investment in Saudi Arabia
There is a broad range of examples of this investment, proving the noble intentions of accomplishing these objectives, such as:
King Khalid Foundation Social Entrepreneurship Grants
King Khalid Foundation offers social entrepreneurship grants that aim to the following:
- Supporting business incubators in Saudi Arabia.
- Empowering social entrepreneurs to develop their initiatives and turn them into startups.
- Contributing to solving various social and environmental challenges.
Also read about: Investment in NEOM.
“Tasami” Center for Youth Initiative Development
This center has the same objectives that we mentioned above with King Khalid Foundation, so it established multiple initiatives like:
- Initiative Incubation Program
- “Anamel Mobserah” Initiative
- “Ibtasem” Volunteer Group
“Lamsa” Children’s Arabic Content Company
“Lamsa” is considered as a model of social investment by providing educational and entertaining content for children that aligns with Arab values, helping bridge the gap in Arabic content designed for children.
Finally, social investment in Saudi Arabia encompasses the valuable futuristic ambitions of Saudi Arabia, which you can discover through Bayut Blog and all that you need to know about Saudi Arabia investments, especially real estate which is your door to invest in Saudi.
