The Small and Medium Enterprises General Authority “Monsha’at” signed a memorandum of cooperation with the Ministry of Defense aimed at empowering retired military personnel from the ministry to enter the field of entrepreneurship through a supportive ecosystem that helps them leverage their expertise, create employment opportunities, and build sustainable businesses that contribute to economic growth.

Through the memorandum, both parties seek to create an attractive investment environment for retired military personnel affiliated with the ministry and support entrepreneurs by implementing various initiatives focused on capacity building across different fields of entrepreneurship. The cooperation also includes developing suitable products tailored to the needs of entrepreneurs and startups, while supporting opportunities for consultation, training, and continuous development.

The memorandum comes as part of Monsha’at’s commitment to supporting entrepreneurship among retired military personnel from the Ministry of Defense across various sectors, while addressing challenges they may face through dedicated support initiatives and contributing to the growth of their entrepreneurial ventures, in line with the objectives of Saudi Vision 2030 to build a vibrant society and a thriving economy.