MONSHA'AT SIGNS MOU WITH SME MALAYSIA AT BIBAN24 FORUM

RIYADH, Nov 6 (Bernama-SPA) -- The Saudi Arabia's General Authority for Small and Medium Enterprises (Monsha’at) signed a collaborative memorandum of understanding (MoU) with the Malaysian Small and Medium Enterprise Corporation (SME Corp Malaysia) at the Biban24 Forum, according to the Saudi Press Agency (SPA).

Organised by Monsha’at under the slogan "Global Destination for Opportunities," the forum runs from November 5-9 at the Riyadh Front Exhibition and Convention Center.

The MoU was signed by Monsha’at Governor Sami bin Ibrahim Al-Husseini and SME Corp Malaysia Chief Executive Officer Rizal Nainy, in the presence of Saudi Commerce Minister Dr. Majid bin Abdullah Al-Kassabi and Malaysian Minister of Entrepreneur Development and Cooperatives Datuk Ewon Benedick.

The agreement marks a significant step in strengthening relations and expanding cooperation in small and medium enterprise (SME) development between Saudi Arabia and Malaysia.

It establishes a framework for both entities to closely collaborate on exchanging information and expertise to support the growth of SMEs.

The partnership emphasises capacity building, high-growth SME programs, market access facilitation, knowledge transfer, and the sharing of best practices related to SME regulations.

These efforts aim to streamline business operations, boost innovation, and promote entrepreneurship. Biban24 seeks to position Saudi Arabia as a leading hub for entrepreneurs regionally and globally, with initiatives to develop programs and services that enhance the competitiveness and growth of entrepreneurial ventures.

The forum also fosters a culture of innovation and entrepreneurship, encourages new business creation, and attracts impactful ideas that contribute to local and global economies.

-- BERNAMA-SPA