The Small and Medium Enterprises General Authority “Monsha’at” signed a memorandum of understanding with the National Innovation Agency (Public Organization) of the Kingdom of Thailand (NIA), on the sidelines of Biban 2025, held in Riyadh from November 5 to 8 under the theme A Global Destination for Opportunities.

The memorandum aims to support technology startups by launching joint innovation competitions and drawing on global best practices in innovation through the development of cooperation programs with research and innovation centers and business incubators in both countries.

The memorandum was signed on behalf of Monsha’at by the Governor of Monsha’at, Sami bin Ibrahim Al Hussaini, and on behalf of Thailand’s National Innovation Agency by its Executive Director, Doctor Krithpaka Boonfueng. This partnership comes as part of Monsha’at’s efforts to expand its international cooperation in the fields of innovation and entrepreneurship and to strengthen an environment of knowledge exchange and sustainable growth for startups, in line with Saudi Vision 2030, which seeks to build a diversified, knowledge-based economy.

Biban 2025 is witnessing broad global participation, with the value of the agreements and deals signed exceeding SAR 22 billion, cementing its standing as a leading international platform for economic and entrepreneurial cooperation between the Kingdom and the countries of the world.