On the third day of the Global Entrepreneurship Congress (GEC) in Riyadh, SAR 6 billion ($1.59 bn) worth of agreements were signed and initiatives launched.
The Small and Medium Enterprises Financing Guarantee Program “Kafalah” signed a number of agreements with a number of ministries as well as public and private sector institutions.
The General Authority for Small and Medium Enterprises (Monsha’at) also signed various cooperation agreements and launched National Industrial Development and Logistics Program “Thousand Mile” Initiative.
A total of 33 agreements besides several investments worth more than $4.2 billion were signed on the first day of the Global Entrepreneurship Congress in Riyadh.
These are aimed at supporting entrepreneurship in various fields and enhancing the Kingdom’s status as an attractive environment for pioneers, innovators and creators in the Middle East and North Africa, Saudi media reports said.
Saudi Aramco signed 10 memoranda of cooperation and two agreements with local and international companies in digital transformation, information technology, and national development, while the Social Development Bank signed agreements with several entities including the Royal Commission in Yanbu and the National Entrepreneurship Institute (Riyadah), and announced the launch of several initiatives to support Empowering entrepreneurs valued at more than SR11 billion (around $3 billion).
The conference continues till March 30 and will see dozens of agreements signed between government agencies and major corporations, besides the launch of investment funds, acquisitions, and financing.
The Global Entrepreneurship Conference (GEC) recorded 28.9 billion ($7.71 billion) worth of agreements and launches on the second day.
The conference is designed to support entrepreneurship in various fields and enhance the Kingdom’s position as an attractive environment for pioneers, innovators and creators from around the world.
It has been organized by the Small and Medium Enterprises General Authority “Monsha’at” in cooperation with the Global Entrepreneurship Network, under the slogan “We Reinvent, We Renew”.
Monsha’at signed a memorandum of understanding with Amazon to enable local companies to sell their products to millions of customers across the Kingdom on the Amazon Saudi Arabia store.