The Small and Medium Enterprises General Authority (Monsha’at) has signed a memorandum of understanding (MoU) with King Abdullah University of Science and Technology (KAUST) at Biban24 Forum.
According to the Saudi Press Agency (SPA), the MoU aims particularly to support and empower entrepreneurs and small and medium-sized enterprises (SMEs).
Through bilateral programs and initiatives, both entities will provide new services to rapidly growing businesses and get rid of all existing challenges and obstacles.
Moreover, the current collaboration will offer an ambitious program and an integrated system of specialized services and programs.
To this end, the MoU will ensure the exchange of practical and scientific expertise and the launch of several projects to develop the entrepreneurship environment across Saudi Arabia.
In addition to this, both sides will cooperate in holding events, forums and courses to strongly support small and medium enterprises. For example, they will widely collaborate to launch multiple training programs at the “Mansha’at Academy”.
The MoU was signed by the Deputy Governor for Enterprise Services at Monsha’at, Eng. Ryan bin Ibrahim Alfayez, and Dr. Ian Campbell, Vice President of the National Transformation Institute at KAUST.
Crucially, the partnership will significantly mirror the importance of small and medium enterprises in supporting the national economy and driving development.
Furthermore, they have a pivotal role in increasing exports, creating new job opportunities for Saudi youth and unleashing new labor markets.
Therefore, they basically diversify sources of income and expand the production base in line with the Saudi Vision 2030.
Related Topics:
Monsha’at Organizes Entrepreneurship Market Exhibition in Jeddah
Biban24: Monsha’at Signs Key Agreements on Forum’s 2nd Day
Monsha’at, Major Banks Partner to Boost Entrepreneurial Financing at Biban 24
