Many Agreements, MoUs Signed on Day Three of Biban24 Forum

Riyadh, November 08, 2024, SPA -- Some 23 agreements were signed and several projects were launched at an estimated worth of SAR580 million on the third day of the Biban24 forum, organized by the Small and Medium Enterprises General Authority (Monsha'at) under the slogan "Global Destination for Opportunities," which aims to support entrepreneurship and promote the growth of small and medium enterprises in a variety of sectors in accordance with the Kingdom's Vision 2030.
Monsha'at entered into a cooperation agreement with the Saudi Cloud Computing Company (SCCC) to collaborate on developing cloud technical solutions for digital transformation and supporting educational activities for entrepreneurs. Additionally, it signed a partnership with Microsoft to provide cloud computing services through the Founder Hub platform to entrepreneurs. Monsha'at also partnered with Zoom platform to provide technological solutions and organize training sessions through the Mazaya platform. It also signed a cooperation agreement with Oracle to offer workshops on using Oracle technologies for business management, along with cloud solutions and artificial intelligence tools to support startups.
Furthermore, Monsha'at signed a cooperation agreement with Omnia Education Partnerships to provide educational and training programs that enhance the skills of entrepreneurs and accelerate the development of small enterprises.
A memorandum of understanding (MoU) was signed with Mukatafa in the retail sector to establish training programs for the Retail Academy, enhance franchising models, and improve the legislative environment for entrepreneurs in this promising sector.
Moreover, Monsha'at signed an MoU with the Hail Region Development Authority to increase awareness of investment opportunities in the region, thereby enhancing investment opportunities in the Kingdom's regions.
Small and Medium Enterprise Bank (SME Bank) signed numerous agreements with various entities, such as the Saudi Bar Association and the Environment Fund, to offer financing and assistance to small and medium-sized enterprises, enhancing their contribution to the national economy.
The Small and Medium Enterprises Loan Guarantee Program (Kafalah) signed numerous agreements with the Ministry of Health and various companies, such as Mudad and Wakan Wealth, to offer financing solutions that facilitate the development and continuity of small enterprises.
The Tourism Development Fund also inked agreements with numerous financial institutions totaling SAR580 million. These agreements aim to support tourism projects that contribute to local tourism development and promote small and medium enterprises in the tourism sector.
--SPA