The Small and Medium Enterprises General Authority “Monsha’at” marked the second day of Biban 2025, which it organizes under the theme A Global Destination for Opportunities, with the signing of 21 agreements and memorandums of understanding and the launch of five supporting and enabling initiatives, reflecting the commitment of various entities to supporting entrepreneurship and empowering SMEs, in line with the objectives of Saudi Vision 2030 to strengthen economic diversification and stimulate innovation and sustainable growth.

Monsha’at signed several memorandums of understanding and cooperation agreements to support entrepreneurship and empower micro, small, and medium enterprises (MSMEs) across various sectors. These included a memorandum of understanding with Alwaleed Philanthropies to support and empower the social entrepreneurship ecosystem, and a memorandum of understanding with the Al-Ahsa Development Authority to strengthen the investment environment in the governorate and support its entrepreneurs. Monsha’at also concluded a cooperation agreement with the Saudi Tourism Authority to empower enterprises operating in the tourism sector through initiatives, investment opportunities, and training programs, and a memorandum of understanding with the National Center for Inspection and Control to raise performance quality and strengthen compliance among enterprises.

On the technology side, it signed an agreement with Elm to provide digital solutions tailored to MSMEs, including the Rabet, Damen, and Mojaz Business services. An agreement was also signed with stc Group to offer exclusive deals and discounts on services through the Mazaya platform, alongside cooperation on the Governance Maturity Assessment initiative for enterprises enrolled in the Tomoh Program, in addition to cooperation in the field of business accelerators.

Monsha’at also concluded an agreement with the Ministry of Municipalities and Housing to support the social investment sector, and another with the Ministry of Industry and Mineral Resources to strengthen the economic empowerment of industrial and mining nonprofit organizations and the field of entrepreneurship, and to develop innovative solutions that contribute to sustainable development.

On the international side, Monsha’at signed a series of memorandums of understanding with global entities to strengthen international cooperation and enable entrepreneurs to expand into global markets. These included a memorandum of understanding with the Estonian Information and Communication Technology Agency to cooperate on international expansion programs and develop joint incubators and accelerators, another with the X platform to hold development workshops for entrepreneurs, and one with TikTok to support enterprises through the Mazaya platform and showcase Saudi success stories.

It concluded an agreement with PayPal to cooperate on e-commerce services and programs for fast-growing enterprises aimed at international expansion, and with the GCC Board Directors Institute to develop executive programs under the Tomoh Program. The agreements also included cooperation with Carve Startup Labs to exchange expertise and implement programs directed at Tomoh companies, and a memorandum with Nest Accelerator to support the international expansion of startups and empower Saudi women entrepreneurs in Europe and North Africa.

A memorandum of understanding was also signed with Kaspersky to add cybersecurity services to the Mazaya platform, and another with the Ethiopian Young Entrepreneurs Association to exchange expertise in developing digital solutions and supporting MSMEs.

The day included several quality launches, including the launch of digital payment solution services in cooperation between Monsha’at and Geidea, which give beneficiaries of the Mazaya platform digital payment solutions at reduced and exclusive prices, with the aim of accelerating the shift toward the digital adoption of payments and reducing operating costs for MSMEs by lowering payment service fees.

These partnerships and agreements underscore Monsha’at’s commitment to providing a comprehensive and supportive environment for entrepreneurship, contributing to achieving Saudi Vision 2030 and strengthening the Kingdom’s position as a global destination for entrepreneurship and investment, through diversifying the national economy, supporting innovation, and providing the support MSMEs need to achieve sustainable growth.