Saudi Arabia's non-profit sector is essential

Saudi Arabia's non-profit sector is essential

The non-profit sector in Saudi Arabia is essential in promoting social responsibility and community engagement. The government is actively supporting non-profit organizations through financial initiatives and regulatory changes, aiming to revitalize the sector as part of Vision 2030.

To create a robust and productive society, vision 2030 seeks to build a strong and productive society. One of its primary goals is to maximize the impact of the non-profit sector across all socio-economic domains. The development of institutional transformation systems, support for impactful projects and programs, and facilitation of non-profit organizations is essential to achieve this goal.

In a new book titled KPMG, KPMG offers a complete guide to understand the trends, innovations, and significant advancements that are shaping the non-profit sector in Saudi Arabia.

Hanan Alowain, partner, government and public sector at KPMG in Saudi Arabia, said.

Vision 2030 considers the non-profit sector as a contributing partner to society and a mechanism to strengthen the public sector without burdening the government with excessive costs, she said.

Vision 2030's main objective is to increase the non-profit sector's contributions to Saudi Arabia's gross domestic product by 5 percent by 2030.

Alowain said he was not aware of the allegations, but added that the allegations were based on interviews and other evidence.

The sector's progress has been evident, as it has seen a rapid growth from 2,598 non-profit organizations in 2017 to 36,151 organizations in June 2023. The development of a robust funding, engagement, and support platform is underway, enabling the creation of more non-profit startups and enhancing the capabilities of the sector.

The vision 2030 encapsulates the plans and processes necessary to realize a collective vision for Saudi Arabia, giving a level of policy transparency at the highest level, said Omar Alhalabi, head of enterprise strategy at KPMG in Saudi Arabia.

The strategy focus and goal-setting towards a lively and satisfied society provide clear direction and defined objectives for the non-profit sector in the UK.

There is more that can and should be done to ensure that non-profit organizations can fully contribute to Vision 2030's goals, Alhalabi said.

To optimize effectiveness and accelerate impact, additional initiatives such as strategic measures aimed at long-term financial sustainability and creating a more diverse funding mix, as well as tactical initiatives that deliver quick wins, generate immediate funding, and build momentum, should be pursued.

External factors, such as changing demographics, economic conditions, growing donor sophistication, increased competition, regulation, and policy, and technology are among the various external factors that influence the development of a nation.

The KPMG report revealed that there is a profound impact on non-profit organizations and sectors worldwide.

Alowain said he had reached an agreement with the court that did not violate the terms of the settlement.