Monsha’at, the General Authority for Small and Medium Enterprises of the Kingdom of Saudi Arabia, has signed a Memorandum of Understanding (MoU) with Huawei Tech Investment Saudi Arabia Limited. Launched on the opening day of Biban 2023 – Saudi Arabia’s largest startups, SMEs and entrepreneurship conference – the new partnership will see the two entities join forces to drive the digital transformation of small and medium-sized enterprises (SMEs) in the country.
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Biban 23 opened its doors today to the world’s entrepreneurs, SMEs and startups (Photo: AETOSWire)
As part of the agreement, Monsha’at and Huawei Tech Investment Saudi Arabia will work together to equip Saudi SMEs with the tools they need to grow and succeed in the e-commerce environment. The agreement will promote joint cooperation and pioneering cutting-edge solutions designed to empower SMEs that rely on communications technology.
The MoU was one of more than 25 deals launched along with a host of investment initiatives on the first day of Biban 2023. – attract more than 105,000 participants, including entrepreneurs, SME owners, investors, policymakers and other stakeholders.
As part of the signed agreements, in addition to the MoU with Huawei, eight banks and funding entities have pledged more than US$2.93 billion to support Saudi Arabia’s SME ecosystem.
In line with Vision 2030, the agreements will contribute to the diversification of the national economy, transforming the country into a world-class commercial hub.
Sami Ibrahim Alhussaini, Governor of Monsha’at, said: “We are fully committed to strengthening the national economy and developing Saudi Arabia’s potential. As part of this mission, we aim to create a positive business environment conducive to investment and growth. We’ve made significant strides on that journey over the years, as seen with the country’s recent leap from the 41stplace in 2018 to second in 2022 in the Global Entrepreneurship Monitoring State of Entrepreneurship Index.”
He added: “Biban 2023 represents a great opportunity for us to build on this progress and take further steps towards achieving the Vision 2030 goals. innovation and effect lasting positive change in the Saudi and international entrepreneurship sector”.
* Fonte: AETOSWire
The original language text of this announcement is the official authorized version. Translations are provided as a convenience only and must refer to the original language text, which is the only version of the text that is legally binding.
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Source: BUSINESS WIRE
